Handelsbanken Fonder AB Has $21.87 Million Stake in Apollo Global Management, Inc. (NYSE:APO)

Handelsbanken Fonder AB trimmed its holdings in Apollo Global Management, Inc. (NYSE:APO) by 0.9% in the first quarter, Holdings Channel reports. The fund owned 159,665 shares of the financial services provider’s stock after selling 1,507 shares during the period. Handelsbanken Fonder AB’s holdings in Apollo Global Management were worth $21,865,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Apollo Global Management by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock worth $7,454,560,000 after buying an additional 3,691,700 shares during the period. Geode Capital Management LLC boosted its position in shares of Apollo Global Management by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock worth $1,550,316,000 after buying an additional 3,695,979 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in 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 in the last quarter. Northern Trust Corp raised its holdings in Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock worth $723,853,000 after acquiring an additional 1,460,689 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Apollo Global Management by 60.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock worth $479,057,000 after acquiring an additional 1,094,464 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APO has been the topic of several analyst reports. TD Cowen dropped their target price on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Morgan Stanley dropped their target price on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Barclays upped their target price on Apollo Global Management from $145.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Cowen reiterated a “buy” rating on shares of Apollo Global Management in a report on Monday, May 5th. Finally, Bank of America upped their price objective on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $159.00.

Apollo Global Management Trading Up 1.8%

Shares of APO stock opened at $138.10 on Thursday. The stock’s fifty day moving average price is $131.35 and its two-hundred day moving average price is $149.29. The company has a market cap of $78.92 billion, a PE ratio of 18.89, a P/E/G ratio of 1.17 and a beta of 1.59. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management (NYSE:APO) last issued its 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 business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The company’s revenue for the quarter was down 21.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.72 EPS. Equities analysts predict that Apollo Global Management, Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Friday, May 16th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is currently 35.73%.

Insider Activity

In related news, insider Leon D. Black sold 500,000 shares of the firm’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 owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This trade represents a 1.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Martin Kelly sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total value of $530,280.00. Following the sale, the chief financial officer now directly owns 373,164 shares in the company, valued at approximately $49,470,351.48. This trade represents a 1.06% decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.

Apollo Global Management Profile

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.