Spinnaker Trust Has $5.37 Million Stake in Apollo Global Management Inc. $APO

Spinnaker Trust raised its stake in Apollo Global Management Inc. (NYSE:APO) by 13.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,155 shares of the financial services provider’s stock after acquiring an additional 5,561 shares during the quarter. Spinnaker Trust’s holdings in Apollo Global Management were worth $5,365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management in the 4th quarter valued at approximately $29,000. MBM Wealth Consultants LLC acquired a new position in shares of Apollo Global Management during the first quarter worth $29,000. Osbon Capital Management LLC acquired a new position in shares of Apollo Global Management during the fourth quarter worth $36,000. Physician Wealth Advisors Inc. lifted its stake in shares of Apollo Global Management by 57.8% in the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 96 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Apollo Global Management in the 4th quarter valued at $42,000. 77.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the transaction, the insider owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.30% of the company’s stock.

Apollo Global Management Stock Down 2.8%

Shares of NYSE:APO opened at $115.03 on Tuesday. The firm has a market cap of $66.32 billion, a P/E ratio of 73.27, a P/E/G 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 business has a fifty day simple moving average of $129.48 and a 200 day simple moving average of $127.66. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the firm posted $1.82 earnings per share. The business’s quarterly revenue was down 8.8% on a year-over-year basis. Analysts predict that Apollo Global Management Inc. will post 8.28 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a $0.5625 dividend. The ex-dividend date was Tuesday, May 19th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a yield of 2.0%. Apollo Global Management’s dividend payout ratio (DPR) is currently 143.31%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Evercore restated an “outperform” rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. BMO Capital Markets dropped their target price 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. Piper Sandler lifted their price target on Apollo Global Management from $146.00 to $157.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Barclays boosted their price target on Apollo Global Management from $125.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $151.23.

About Apollo Global Management

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.