Apollo Global Management Inc. $APO Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. reduced its position in shares of Apollo Global Management Inc. (NYSE:APO) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,861 shares of the financial services provider’s stock after selling 5,973 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Apollo Global Management were worth $19,001,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Apollo Global Management by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock valued at $6,913,826,000 after acquiring an additional 340,956 shares in the last quarter. Northern Trust Corp grew its stake in Apollo Global Management by 7.3% during the 3rd quarter. Northern Trust Corp now owns 4,385,787 shares of the financial services provider’s stock worth $584,494,000 after buying an additional 299,698 shares during the last quarter. Legal & General Group Plc grew its stake in Apollo Global Management by 5.7% during the 3rd quarter. Legal & General Group Plc now owns 3,455,982 shares of the financial services provider’s stock worth $460,579,000 after buying an additional 186,292 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Apollo Global Management by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,451,537 shares of the financial services provider’s stock worth $326,716,000 after buying an additional 48,053 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in Apollo Global Management by 31.1% during the 3rd quarter. Bessemer Group Inc. now owns 1,617,228 shares of the financial services provider’s stock worth $215,530,000 after buying an additional 383,198 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler lowered 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. Wall Street Zen cut Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Morgan Stanley decreased their price target 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. The Goldman Sachs Group decreased their price target on 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. Finally, TD Cowen decreased their price target on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.38.

Apollo Global Management Trading Down 2.1%

Shares of APO stock opened at $131.24 on Wednesday. The stock has a 50-day simple moving average of $117.42 and a 200 day simple moving average of $127.85. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $157.28. The stock has a market capitalization of $75.66 billion, a P/E ratio of 83.59, a P/E/G ratio of 1.12 and a beta of 1.52. 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 (NYSE:APO) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The business had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the business posted $1.82 earnings per share. The company’s quarterly revenue was down 8.8% on a year-over-year basis. On average, sell-side 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 company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be paid 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 1.7%. The ex-dividend date of this dividend is Tuesday, May 19th. Apollo Global Management’s dividend payout ratio (DPR) is 129.94%.

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.