UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 766,506 Shares of Apollo Global Management, Inc. (NYSE:APO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Apollo Global Management, Inc. (NYSE:APO) by 13.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,917,629 shares of the financial services provider’s stock after selling 766,506 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.87% of Apollo Global Management worth $812,196,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Apollo Global Management by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock valued at $1,550,316,000 after acquiring an additional 3,695,979 shares in the last quarter. Vanguard Group Inc. increased its stake in Apollo Global Management by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after purchasing an additional 3,691,700 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Apollo Global Management by 245.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock worth $438,196,000 after purchasing an additional 1,886,146 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Apollo Global Management by 36.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock worth $1,065,615,000 after acquiring an additional 1,739,807 shares during the period. Finally, Northern Trust Corp raised its position in Apollo Global Management by 50.0% in the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock valued at $723,853,000 after buying an additional 1,460,689 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the topic of a number of research analyst reports. TD Cowen dropped their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Bank of America upped their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 4th. Barclays raised their price target on shares of Apollo Global Management from $145.00 to $156.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. UBS Group lowered their price objective on shares of Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.89.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 4,000 shares of Apollo Global Management stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the sale, the chief financial officer now owns 373,164 shares of the company’s stock, valued at $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the sale, the insider now directly owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This trade represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.20% of the stock is owned by insiders.

Apollo Global Management Stock Down 0.9%

Apollo Global Management stock opened at $142.61 on Tuesday. The stock’s fifty day simple moving average is $133.11 and its 200-day simple moving average is $152.59. The firm has a market capitalization of $81.36 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.17 and a beta of 1.67. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). The company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. Apollo Global Management’s revenue was down 21.2% on a year-over-year basis. During the same period last year, the firm earned $1.72 earnings per share. As a group, equities analysts expect that Apollo Global Management, Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.51 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, May 16th. Apollo Global Management’s dividend payout ratio (DPR) is 35.73%.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public markets. The firm’s private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.