Larson Financial Group LLC Cuts Position in Apollo Global Management Inc. (NYSE:APO)

Larson Financial Group LLC lessened its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 20.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,965 shares of the financial services provider’s stock after selling 760 shares during the quarter. Larson Financial Group LLC’s holdings in Apollo Global Management were worth $406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ellevest Inc. lifted its holdings in Apollo Global Management by 1.5% in the fourth quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider’s stock worth $735,000 after purchasing an additional 67 shares during the period. Vivaldi Capital Management LP increased its holdings in Apollo Global Management by 2.1% in the fourth quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider’s stock worth $566,000 after buying an additional 71 shares during the last quarter. Colonial Trust Co SC boosted its position in Apollo Global Management by 29.2% during the fourth quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 79 shares during the period. CVA Family Office LLC boosted its position in shares of Apollo Global Management by 19.7% in the first quarter. CVA Family Office LLC now owns 534 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 88 shares during the period. Finally, World Investment Advisors raised its stake in Apollo Global Management by 1.3% during the first quarter. World Investment Advisors now owns 7,089 shares of the financial services provider’s stock worth $971,000 after acquiring an additional 93 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APO has been the subject of several analyst reports. Evercore ISI boosted their target price on Apollo Global Management from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Wells Fargo & Company upped their price objective on Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Morgan Stanley decreased their target price on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. UBS Group dropped their target price on Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Finally, TD Cowen decreased their target price on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. 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 given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $161.00.

Apollo Global Management Stock Performance

Shares of APO stock opened at $156.14 on Friday. Apollo Global Management Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a market cap of $89.23 billion, a P/E ratio of 27.35, a PEG ratio of 1.72 and a beta of 1.59. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average price of $138.57 and a 200 day moving average price of $143.49.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $977.14 million. Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The business’s quarterly revenue was down 21.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 EPS. Sell-side analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given 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 1.31%. The ex-dividend date of this dividend was Friday, May 16th. Apollo Global Management’s dividend payout ratio (DPR) is 35.73%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the business’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 owned 373,164 shares of the company’s stock, valued at $49,470,351.48. The trade was a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.20% of the stock is owned by company insiders.

Apollo Global Management Company 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.