Advisory Services Network LLC Decreases Holdings in Apollo Global Management, Inc. (NYSE:APO)

Advisory Services Network LLC trimmed its stake in Apollo Global Management, Inc. (NYSE:APOFree Report) by 19.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,972 shares of the financial services provider’s stock after selling 8,745 shares during the quarter. Advisory Services Network LLC’s holdings in Apollo Global Management were worth $3,352,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of APO. Sugarloaf Wealth Management LLC purchased a new position in Apollo Global Management in the fourth quarter valued at approximately $31,000. CVA Family Office LLC bought a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $34,000. Blue Trust Inc. lifted its stake in shares of Apollo Global Management by 151.4% during the 4th quarter. Blue Trust Inc. now owns 367 shares of the financial services provider’s stock valued at $33,000 after buying an additional 221 shares in the last quarter. Vestmark Advisory Solutions Inc. bought a new position in Apollo Global Management in the 4th quarter worth approximately $36,000. Finally, Hanseatic Management Services Inc. purchased a new position in Apollo Global Management in the 3rd quarter valued at approximately $39,000. 77.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on APO. Barclays cut their target price on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. JPMorgan Chase & Co. lifted their target price on shares of Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. JMP Securities reissued a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Citigroup upped their target price on shares of Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Finally, BMO Capital Markets raised their price target on Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.62.

Check Out Our Latest Analysis on Apollo Global Management

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $115.52 on Monday. The stock has a market capitalization of $65.63 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 0.95 and a beta of 1.61. Apollo Global Management, Inc. has a one year low of $62.97 and a one year high of $117.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.60 and a quick ratio of 1.60. The business’s 50 day simple moving average is $111.89 and its two-hundred day simple moving average is $103.35.

Apollo Global Management (NYSE:APOGet Free Report) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $1.50 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.21). The firm had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $827.33 million. Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. Analysts forecast that Apollo Global Management, Inc. will post 7.19 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 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.463 per share. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.60%. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Insiders Place Their Bets

In other news, insider Leon D. Black sold 450,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total transaction of $49,819,500.00. Following the transaction, the insider now directly owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Apollo Global Management news, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total value of $3,338,700.00. Following the completion of the sale, the chief financial officer now directly owns 359,445 shares in the company, valued at $40,002,634.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Leon D. Black sold 450,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total value of $49,819,500.00. Following the transaction, the insider now owns 42,604,773 shares in the company, valued at approximately $4,716,774,418.83. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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