Spinnaker Trust Purchases 5,561 Shares of Apollo Global Management Inc. $APO

Spinnaker Trust lifted its position in shares of Apollo Global Management Inc. (NYSE:APO) by 13.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,155 shares of the financial services provider’s stock after purchasing an additional 5,561 shares during the period. Spinnaker Trust’s holdings in Apollo Global Management were worth $5,365,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Chesapeake Asset Management LLC increased its position in Apollo Global Management by 3.6% during the 4th quarter. Chesapeake Asset Management LLC now owns 2,065 shares of the financial services provider’s stock worth $299,000 after buying an additional 72 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its position in shares of Apollo Global Management by 0.8% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider’s stock valued at $1,383,000 after acquiring an additional 80 shares during the period. Sunbelt Securities Inc. boosted its position in shares of Apollo Global Management by 16.9% in the third quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 82 shares during the period. United Advisor Group LLC grew its stake in shares of Apollo Global Management by 4.7% in the fourth quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 87 shares in the last quarter. Finally, Broadway Wealth Solutions Inc. grew its stake in shares of Apollo Global Management by 3.8% in the fourth quarter. Broadway Wealth Solutions Inc. now owns 2,388 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 87 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Trading Down 2.8%

Shares of Apollo Global Management stock opened at $115.03 on Tuesday. The company has a market capitalization of $66.32 billion, a price-to-earnings ratio of 73.27, a PEG ratio of 1.02 and a beta of 1.50. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $157.28. The firm’s 50-day moving average price is $129.48 and its two-hundred day moving average price is $127.66.

Apollo Global Management (NYSE:APO) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the company earned $1.82 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.5625 per share. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, May 19th. Apollo Global Management’s dividend payout ratio (DPR) is presently 143.31%.

Insider Buying and Selling

In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were 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 in the company, valued at $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

APO has been the subject of several analyst reports. The Goldman Sachs Group dropped their price objective on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Barclays increased their target price on shares of Apollo Global Management from $125.00 to $131.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Royal Bank Of Canada raised their target price on shares of Apollo Global Management from $139.00 to $146.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Piper Sandler lifted their price target on shares of Apollo Global Management from $146.00 to $157.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Finally, UBS Group increased their price target on Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.