Apollo Global Management Inc. $APO Stock Position Reduced by Kestra Advisory Services LLC

Kestra Advisory Services LLC lessened its stake in Apollo Global Management Inc. (NYSE:APO) by 30.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 28,295 shares of the financial services provider’s stock after selling 12,312 shares during the quarter. Kestra Advisory Services LLC’s holdings in Apollo Global Management were worth $3,153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Schnieders Capital Management LLC. acquired a new stake in shares of Apollo Global Management during the 2nd quarter valued at $7,954,000. Baird Financial Group Inc. raised its holdings in shares of Apollo Global Management by 117.5% during the second quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider’s stock worth $2,287,000 after acquiring an additional 8,709 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in Apollo Global Management by 4.8% during the second quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 305 shares during the last quarter. Nebula Research & Development LLC purchased a new position in Apollo Global Management in the second quarter valued at about $722,000. Finally, Northern Right Capital Management L.P. increased its position in Apollo Global Management by 1.5% in the 2nd quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider’s stock worth $24,542,000 after purchasing an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 2.3%

Shares of Apollo Global Management stock opened at $120.51 on Friday. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $156.89. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average price of $127.52 and a two-hundred day moving average price of $125.06. The stock has a market capitalization of $69.48 billion, a P/E ratio of 76.76, a PEG ratio of 1.07 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the firm posted $1.82 earnings per share. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. Equities analysts expect that Apollo Global Management Inc. will post 8.23 earnings per share for the current year.

Apollo Global Management Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group reduced their price target on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. TD Cowen reduced their target price on shares of 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. Morgan Stanley dropped their price target on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. BMO Capital Markets reduced their price objective on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a research note on Monday, July 13th. Finally, Royal Bank Of Canada decreased their price objective on shares of Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating for the company in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $149.50.

Insider Buying and Selling

In related news, insider John P. Zito sold 48,644 shares of Apollo Global Management stock in a transaction on Wednesday, May 27th. The shares were 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 $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.30% of the stock is 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.