Apollo Global Management Inc. $APO Position Trimmed by Park Avenue Securities LLC

Park Avenue Securities LLC lessened its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 5.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,105 shares of the financial services provider’s stock after selling 227 shares during the quarter. Park Avenue Securities LLC’s holdings in Apollo Global Management were worth $582,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Apollo Global Management by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider’s stock valued at $75,347,000 after buying an additional 7,441 shares in the last quarter. Clearview Wealth Advisors LLC grew its stake in shares of Apollo Global Management by 420.7% in the 1st quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider’s stock valued at $2,952,000 after buying an additional 17,418 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of Apollo Global Management in the 1st quarter valued at approximately $871,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Apollo Global Management in the 1st quarter valued at approximately $492,000. Finally, True North Advisors LLC acquired a new stake in Apollo Global Management in the 1st quarter worth approximately $2,097,000. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Up 1.1%

APO opened at $137.65 on Monday. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $78.74 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 1.48 and a beta of 1.69. The business has a 50 day moving average of $140.32 and a 200-day moving average of $137.24.

Apollo Global Management (NYSE:APO) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same period in the prior year, the company posted $1.64 earnings per share. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s dividend payout ratio is presently 38.13%.

Insider Activity at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the transaction, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the transaction, the chief financial officer owned 332,399 shares of the company’s stock, valued at $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 935,000 shares of company stock worth $125,543,790. 8.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

APO has been the subject of several analyst reports. Barclays boosted their target price on Apollo Global Management from $156.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Wells Fargo & Company boosted their target price on Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Wall Street Zen upgraded Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Evercore ISI upped their price target on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Finally, Citigroup increased their price objective on Apollo Global Management from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $166.27.

About Apollo Global Management

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.