Levin Capital Strategies L.P. Cuts Position in Apollo Global Management, Inc. (NYSE:APO)

Levin Capital Strategies L.P. cut its stake in Apollo Global Management, Inc. (NYSE:APO) by 14.7% in the 4th quarter, Holdings Channel reports. The fund owned 5,812 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Apollo Global Management were worth $542,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APO. FMR LLC boosted its position in Apollo Global Management by 18.9% during the third quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock valued at $892,973,000 after buying an additional 1,584,201 shares during the period. PointState Capital LP purchased a new stake in Apollo Global Management during the third quarter valued at about $98,382,000. Westfield Capital Management Co. LP bought a new position in shares of Apollo Global Management during the third quarter valued at about $73,840,000. Keystone Investors PTE Ltd. bought a new position in shares of Apollo Global Management during the third quarter valued at about $54,355,000. Finally, Federated Hermes Inc. raised its stake in shares of Apollo Global Management by 45.6% during the third quarter. Federated Hermes Inc. now owns 1,351,609 shares of the financial services provider’s stock valued at $121,320,000 after acquiring an additional 423,538 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Morgan Stanley increased their price target on shares of Apollo Global Management from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Barclays raised their target price on shares of Apollo Global Management from $122.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. JMP Securities restated a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Finally, BMO Capital Markets raised their target price on shares of Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and an average target price of $113.33.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 14,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $109.09, for a total value of $1,527,260.00. Following the transaction, the chief financial officer now directly owns 366,572 shares in the company, valued at approximately $39,989,339.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Leon D. Black sold 300,000 shares of the stock in a transaction that occurred on Saturday, February 24th. The shares were sold at an average price of $111.51, for a total transaction of $33,453,000.00. Following the completion of the sale, the insider now owns 43,054,773 shares of the company’s stock, valued at $4,801,037,737.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Martin Kelly sold 14,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the sale, the chief financial officer now directly owns 366,572 shares of the company’s stock, valued at approximately $39,989,339.48. The disclosure for this sale can be found here. Insiders have sold 1,426,000 shares of company stock worth $158,226,960 in the last three months. Corporate insiders own 8.70% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE:APO traded up $4.09 on Thursday, reaching $111.86. The company’s stock had a trading volume of 3,611,592 shares, compared to its average volume of 2,327,034. Apollo Global Management, Inc. has a 52-week low of $57.50 and a 52-week high of $117.15. The company has a market cap of $63.55 billion, a P/E ratio of 13.32, a PEG ratio of 0.91 and a beta of 1.61. The company has a 50-day simple moving average of $111.14 and a 200 day simple moving average of $99.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.54 and a current ratio of 1.54.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. The business had revenue of $795.00 million during the quarter, compared to analysts’ expectations of $823.27 million. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. As a group, equities research analysts anticipate that Apollo Global Management, Inc. will post 7.43 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.72 dividend on an annualized basis and a yield of 1.54%. Apollo Global Management’s dividend payout ratio is currently 20.45%.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.