Kestra Private Wealth Services LLC Sells 21,442 Shares of Apollo Global Management Inc. $APO

Kestra Private Wealth Services LLC decreased its holdings in Apollo Global Management Inc. (NYSE:APO) by 87.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,169 shares of the financial services provider’s stock after selling 21,442 shares during the period. Kestra Private Wealth Services LLC’s holdings in Apollo Global Management were worth $353,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of APO. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $29,000. MBM Wealth Consultants LLC acquired a new position in Apollo Global Management during the 1st quarter worth approximately $29,000. Osbon Capital Management LLC bought a new position in Apollo Global Management in the 4th quarter valued at approximately $36,000. Physician Wealth Advisors Inc. lifted its stake in 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 purchasing an additional 96 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insiders Place Their Bets

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.30% of the company’s stock.

Apollo Global Management Trading Up 0.1%

NYSE:APO opened at $118.71 on Monday. 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 has a market capitalization of $68.44 billion, a price-to-earnings ratio of 75.61, a PEG ratio of 1.02 and a beta of 1.50. The firm has a fifty day simple moving average of $128.79 and a two-hundred day simple moving average of $126.81.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data 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. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.82 earnings per share. Analysts expect that Apollo Global Management Inc. will post 8.26 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were paid a dividend of $0.5625 per share. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. Apollo Global Management’s dividend payout ratio (DPR) is currently 143.31%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. The Goldman Sachs Group cut their price objective on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. BMO Capital Markets cut their price target on Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 24th. TD Cowen reduced their price target on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Finally, Morgan Stanley lowered their price objective on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Apollo Global Management presently 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.