Smithbridge Asset Management Inc. DE Sells 68,655 Shares of Apollo Global Management Inc. $APO

Smithbridge Asset Management Inc. DE lessened its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 51.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 64,910 shares of the financial services provider’s stock after selling 68,655 shares during the period. Apollo Global Management accounts for about 1.1% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 29th biggest holding. Smithbridge Asset Management Inc. DE’s holdings in Apollo Global Management were worth $7,232,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APO. Boston Partners increased its holdings in shares of Apollo Global Management by 106.7% in the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock worth $474,384,000 after purchasing an additional 1,692,532 shares during the last quarter. Focus Partners Wealth boosted its position in Apollo Global Management by 2,560.3% in the 4th quarter. Focus Partners Wealth now owns 1,404,576 shares of the financial services provider’s stock valued at $203,324,000 after buying an additional 1,351,778 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Apollo Global Management by 271.8% in the fourth quarter. Corient Private Wealth LLC now owns 1,024,143 shares of the financial services provider’s stock valued at $148,255,000 after purchasing an additional 748,697 shares during the period. Temasek Holdings Private Ltd lifted its holdings in shares of Apollo Global Management by 879.2% in the 4th quarter. Temasek Holdings Private Ltd now owns 753,349 shares of the financial services provider’s stock worth $109,055,000 after buying an additional 676,411 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Apollo Global Management by 5,321.9% during the 4th quarter. Wellington Management Group LLP now owns 551,570 shares of the financial services provider’s stock worth $79,845,000 after acquiring an additional 541,397 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on APO shares. TD Cowen reduced their price target on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, May 18th. BMO Capital Markets dropped their price objective on shares of Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating on the stock in a report on Tuesday, March 24th. Piper Sandler raised their price target on shares of Apollo Global Management from $146.00 to $157.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a report on Thursday, May 7th. Finally, Wall Street Zen lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.23.

Apollo Global Management Stock Up 0.1%

Shares of NYSE APO opened at $118.43 on Thursday. 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 cap of $68.28 billion, a PE ratio of 75.43, a P/E/G ratio of 1.02 and a beta of 1.50. The company has a 50-day moving average of $129.17 and a 200 day moving average of $127.22.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data 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 firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the business posted $1.82 earnings per share. The firm’s revenue was down 8.8% compared to the same quarter last year. As a group, sell-side analysts predict 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. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.5625 per share. The ex-dividend date was Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s payout ratio is 143.31%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction 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 sale, the insider owned 3,063,696 shares in the company, valued at $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.30% of the stock is currently owned by company insiders.

Apollo Global Management Company 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.