Apollo Global Management Inc. $APO Holdings Lowered by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. trimmed its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 4.4% in the 4th quarter, HoldingsChannel reports. The firm owned 130,861 shares of the financial services provider’s stock after selling 5,973 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Apollo Global Management were worth $19,001,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. ProShare Advisors LLC lifted its holdings in shares of Apollo Global Management by 5.5% during the fourth quarter. ProShare Advisors LLC now owns 111,750 shares of the financial services provider’s stock valued at $16,177,000 after purchasing an additional 5,874 shares during the last quarter. HighTower Advisors LLC lifted its stake in Apollo Global Management by 129.5% in the 4th quarter. HighTower Advisors LLC now owns 272,141 shares of the financial services provider’s stock worth $39,395,000 after acquiring an additional 153,544 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Apollo Global Management by 3.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,547 shares of the financial services provider’s stock worth $948,000 after acquiring an additional 222 shares in the last quarter. Odyssey Capital Advisors Inc. purchased a new stake in Apollo Global Management in the 4th quarter worth about $879,000. Finally, North Dakota State Investment Board purchased a new stake in Apollo Global Management in the 4th quarter worth about $2,040,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $131.24 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market cap of $75.66 billion, a price-to-earnings ratio of 83.59, a P/E/G ratio of 1.12 and a beta of 1.52. The business’s 50-day simple moving average is $117.42 and its 200-day simple moving average is $127.85. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $157.28.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data 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. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.82 EPS. As a group, equities research analysts expect that Apollo Global Management Inc. will post 8.32 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th will be issued a dividend of $0.5625 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.7%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s payout ratio is currently 129.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group increased their price objective on Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Weiss Ratings downgraded Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Piper Sandler reduced their price objective on Apollo Global Management from $165.00 to $146.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Royal Bank Of Canada upped their target price on Apollo Global Management from $139.00 to $146.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. dropped their target price on Apollo Global Management from $164.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $150.38.

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.