Goodnow Investment Group LLC Trims Position in Apollo Global Management Inc. $APO

Goodnow Investment Group LLC trimmed its position in Apollo Global Management Inc. (NYSE:APO) by 2.2% during the 4th quarter, HoldingsChannel reports. The firm owned 255,821 shares of the financial services provider’s stock after selling 5,759 shares during the period. Apollo Global Management comprises about 3.5% of Goodnow Investment Group LLC’s investment portfolio, making the stock its 12th biggest position. Goodnow Investment Group LLC’s holdings in Apollo Global Management were worth $37,033,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in APO. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Apollo Global Management in the fourth quarter worth approximately $29,000. Physician Wealth Advisors Inc. increased its holdings in Apollo Global Management by 57.8% during the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after buying an additional 96 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new position in Apollo Global Management in the fourth quarter worth approximately $42,000. City Holding Co. boosted its stake in shares of Apollo Global Management by 391.9% during the 4th quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 243 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in shares of Apollo Global Management by 54.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 366 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 129 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the transaction, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.30% of the company’s stock.

Apollo Global Management Trading Up 1.8%

Shares of APO opened at $136.31 on Tuesday. The firm has a market cap of $78.58 billion, a P/E ratio of 86.82, a price-to-earnings-growth ratio of 1.15 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $157.28. The company has a 50 day simple moving average of $125.60 and a two-hundred day simple moving average of $128.01.

Apollo Global Management (NYSE:APO) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.05. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. Apollo Global Management’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.82 earnings per share. On average, equities analysts expect that Apollo Global Management Inc. will post 8.28 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 29th. Stockholders of record on Tuesday, May 19th were issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management’s payout ratio is presently 143.31%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Piper Sandler lifted their target price on Apollo Global Management from $146.00 to $157.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Morgan Stanley cut their price objective on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Weiss Ratings lowered shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Evercore restated an “outperform” rating on shares of Apollo Global Management in a research note on Tuesday, April 21st. Finally, Barclays lifted their price target on shares of Apollo Global Management from $125.00 to $131.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.23.

About Apollo Global Management

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.