Newbrook Capital Advisors LP Cuts Holdings in Apollo Global Management, Inc. (NYSE:APO)

Newbrook Capital Advisors LP trimmed its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 37.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 601,877 shares of the financial services provider’s stock after selling 366,131 shares during the quarter. Apollo Global Management comprises 12.7% of Newbrook Capital Advisors LP’s holdings, making the stock its 2nd biggest position. Newbrook Capital Advisors LP owned about 0.11% of Apollo Global Management worth $99,406,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kestra Private Wealth Services LLC bought a new position in shares of Apollo Global Management in the fourth quarter valued at $3,994,000. Fortress Financial Solutions LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $685,000. Leavell Investment Management Inc. lifted its holdings in Apollo Global Management by 39.8% in the 4th quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock worth $1,016,000 after purchasing an additional 1,750 shares during the last quarter. Amundi raised its holdings in Apollo Global Management by 13.2% in the 4th quarter. Amundi now owns 801,260 shares of the financial services provider’s stock worth $129,788,000 after acquiring an additional 93,451 shares during the period. Finally, State of Michigan Retirement System acquired a new stake in Apollo Global Management in the 4th quarter valued at approximately $20,034,000. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $145.23 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The stock’s fifty day moving average price is $132.09 and its two-hundred day moving average price is $152.54. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The firm has a market cap of $82.85 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 1.17 and a beta of 1.67.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. During the same period last year, the company posted $1.72 EPS. The business’s revenue was down 21.2% on a year-over-year basis. On average, equities analysts forecast that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.40%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is presently 35.73%.

Insider Activity

In other news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the sale, the chief financial officer now owns 373,164 shares in the company, valued at $49,470,351.48. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of Apollo Global Management stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares in the company, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 509,000 shares of company stock valued at $72,321,680. Company insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Piper Sandler cut their target price on Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a report on Monday, May 5th. UBS Group lowered their target price on shares of Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Bank of America raised their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 4th. Finally, Morgan Stanley dropped their price objective on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and an average price target of $157.89.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.