Allworth Financial LP Cuts Position in Apollo Global Management, Inc. (NYSE:APO)

Allworth Financial LP lessened its holdings in Apollo Global Management, Inc. (NYSE:APO) by 27.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 364 shares of the financial services provider’s stock after selling 137 shares during the quarter. Allworth Financial LP’s holdings in Apollo Global Management were worth $34,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Apollo Global Management by 87.8% in the first quarter. Vanguard Group Inc. now owns 37,374,072 shares of the financial services provider’s stock worth $2,316,818,000 after buying an additional 17,476,830 shares in the last quarter. Mariner LLC bought a new position in shares of Apollo Global Management in the first quarter worth approximately $353,603,000. Norges Bank bought a new position in shares of Apollo Global Management in the fourth quarter worth approximately $332,126,000. State Street Corp lifted its stake in shares of Apollo Global Management by 91.1% in the first quarter. State Street Corp now owns 8,032,420 shares of the financial services provider’s stock worth $497,930,000 after buying an additional 3,829,740 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Apollo Global Management in the first quarter worth approximately $217,878,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 2.6 %

APO opened at $110.13 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34. Apollo Global Management, Inc. has a 1-year low of $57.50 and a 1-year high of $117.15. The company has a market capitalization of $62.57 billion, a PE ratio of 13.10, a PEG ratio of 0.91 and a beta of 1.63. The firm’s 50 day simple moving average is $111.03 and its two-hundred day simple moving average is $97.91.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.11. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. The business had revenue of $795.00 million for the quarter, compared to the consensus estimate of $823.27 million. As a group, equities analysts forecast that Apollo Global Management, Inc. will post 7.5 EPS for the current year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were given a $0.43 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.72 annualized dividend and a yield of 1.56%. Apollo Global Management’s payout ratio is presently 20.45%.

Analyst Ratings Changes

Several brokerages have recently issued reports on APO. Barclays upped their target price on shares of Apollo Global Management from $122.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Morgan Stanley increased their price objective on shares of Apollo Global Management from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. started coverage on shares of Apollo Global Management in a research report on Wednesday, February 28th. They set an “overweight” rating and a $122.00 price objective on the stock. BMO Capital Markets increased their price objective on shares of Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, JMP Securities restated a “market perform” rating on shares of Apollo Global Management in a research report on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.25.

Insiders Place Their Bets

In other news, insider Leon D. Black sold 450,000 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the sale, the insider now directly owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Leon D. Black sold 450,000 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the sale, the insider now directly owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Martin Kelly sold 14,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the completion of the sale, the chief financial officer now directly owns 366,572 shares of the company’s stock, valued at $39,989,339.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,426,000 shares of company stock worth $158,226,960. Company insiders own 8.70% of the company’s stock.

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.