Sterling Capital Management LLC Trims Stock Holdings in Apollo Global Management Inc. $APO

Sterling Capital Management LLC decreased its position in Apollo Global Management Inc. (NYSE:APO) by 78.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,377 shares of the financial services provider’s stock after selling 118,936 shares during the quarter. Sterling Capital Management LLC’s holdings in Apollo Global Management were worth $3,607,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in APO. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter worth about $29,000. MBM Wealth Consultants LLC bought a new stake in Apollo Global Management during the first quarter worth about $29,000. Osbon Capital Management LLC bought a new stake in Apollo Global Management during the fourth quarter worth about $36,000. Physician Wealth Advisors Inc. grew its holdings in Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 96 shares during the period. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Apollo Global Management in the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

APO stock opened at $118.66 on Friday. The stock has a market capitalization of $68.41 billion, a PE ratio of 75.58, a price-to-earnings-growth ratio of 1.02 and a beta of 1.50. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $157.28. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. The stock’s 50 day simple moving average is $129.59 and its 200 day simple moving average is $127.93.

Apollo Global Management (NYSE:APO) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the company earned $1.82 EPS. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, research analysts forecast that Apollo Global Management Inc. will post 8.28 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, May 19th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio is 143.31%.

Analyst Ratings Changes

APO has been the subject of several recent research reports. Barclays lifted their target price on shares of Apollo Global Management from $125.00 to $131.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. BMO Capital Markets reduced their price objective on Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating for the company in a research report on Tuesday, March 24th. TD Cowen lowered their price objective on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, May 18th. UBS Group increased their target price on Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Morgan Stanley lowered their price target on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.23.

Insider Buying and Selling

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the transaction, the insider owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.30% of the company’s stock.

Apollo Global Management Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.