Pictet Asset Management Holding SA Sells 10,596 Shares of Apollo Global Management Inc. $APO

Pictet Asset Management Holding SA lowered its stake in Apollo Global Management Inc. (NYSE:APO) by 5.4% in the first quarter, HoldingsChannel.com reports. The firm owned 187,233 shares of the financial services provider’s stock after selling 10,596 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Apollo Global Management were worth $20,862,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in Apollo Global Management during the 4th quarter worth $29,000. MBM Wealth Consultants LLC acquired a new stake in shares of Apollo Global Management in the 1st quarter valued at $29,000. Osbon Capital Management LLC bought a new stake in shares of Apollo Global Management during the fourth quarter worth $36,000. Physician Wealth Advisors Inc. raised its position in shares of 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 worth $38,000 after acquiring an additional 96 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Apollo Global Management during the fourth quarter valued at $42,000. Institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction dated 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 $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is owned by corporate insiders.

Apollo Global Management Trading Up 0.1%

NYSE APO opened at $118.43 on Thursday. The stock’s 50-day moving average is $129.17 and its 200-day moving average is $127.22. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $157.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market cap of $68.28 billion, a P/E ratio of 75.43, a P/E/G ratio of 1.02 and a beta of 1.50.

Apollo Global Management (NYSE:APO) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.89 by $0.05. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the company posted $1.82 EPS. Sell-side analysts anticipate that Apollo Global Management Inc. will post 8.26 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. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.5625 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 19th. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. Apollo Global Management’s dividend payout ratio is currently 143.31%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on APO. The Goldman Sachs Group decreased their price target on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. TD Cowen cut their price objective on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Weiss Ratings cut shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Evercore reaffirmed an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. Finally, Morgan Stanley dropped their target price on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.