Apollo Global Management Inc. $APO Shares Sold by Callodine Capital Management LP

Callodine Capital Management LP lessened its holdings in Apollo Global Management Inc. (NYSE:APO) by 4.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 438,504 shares of the financial services provider’s stock after selling 22,222 shares during the quarter. Apollo Global Management makes up approximately 3.4% of Callodine Capital Management LP’s holdings, making the stock its 10th largest position. Callodine Capital Management LP’s holdings in Apollo Global Management were worth $48,858,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Lombard Odier Asset Management Switzerland SA increased its holdings in shares of Apollo Global Management by 16.8% in the 1st quarter. Lombard Odier Asset Management Switzerland SA now owns 12,492 shares of the financial services provider’s stock valued at $1,392,000 after acquiring an additional 1,800 shares during the last quarter. Guardian Point Capital LP lifted its stake in Apollo Global Management by 42.9% during the first quarter. Guardian Point Capital LP now owns 500,000 shares of the financial services provider’s stock worth $55,710,000 after purchasing an additional 150,000 shares during the last quarter. Waverly Advisors LLC boosted its holdings in Apollo Global Management by 355.6% in the first quarter. Waverly Advisors LLC now owns 17,859 shares of the financial services provider’s stock valued at $1,990,000 after purchasing an additional 13,939 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in Apollo Global Management by 17.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 97,835 shares of the financial services provider’s stock valued at $10,901,000 after purchasing an additional 14,196 shares in the last quarter. Finally, Wealth Alliance LLC increased its stake in Apollo Global Management by 39.1% in the first quarter. Wealth Alliance LLC now owns 2,867 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 806 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider John P. Zito sold 48,644 shares of the firm’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 transaction, the insider owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.30% of the stock is currently owned by corporate insiders.

Apollo Global Management Stock Performance

Shares of APO opened at $122.53 on Friday. The company’s 50 day simple moving average is $126.18 and its 200-day simple moving average is $124.14. The firm has a market cap of $70.64 billion, a PE ratio of 78.04, a price-to-earnings-growth ratio of 1.07 and a beta of 1.50. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45.

Apollo Global Management (NYSE:APO) last released its quarterly 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. The firm had revenue of $5.06 billion during 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%. 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 firm earned $1.82 EPS. As a group, equities analysts predict that Apollo Global Management Inc. will post 8.19 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 19th. Apollo Global Management’s payout ratio is currently 143.31%.

Analysts Set New Price Targets

Several analysts have recently weighed in on APO shares. Royal Bank Of Canada reduced their price objective on shares of Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating for the company in a research report on Monday, July 13th. UBS Group lifted their price target on shares of Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. TD Cowen reduced their price target on shares of Apollo Global Management from $155.00 to $146.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Weiss Ratings downgraded shares of Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, The Goldman Sachs Group dropped their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average price target of $149.08.

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.