Anchor Capital Advisors LLC Sells 75,293 Shares of Apollo Global Management Inc. $APO

Anchor Capital Advisors LLC trimmed its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 80.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,406 shares of the financial services provider’s stock after selling 75,293 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Apollo Global Management were worth $2,611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Apollo Global Management by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock valued at $6,303,186,000 after purchasing an additional 893,428 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Apollo Global Management by 24.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock worth $490,482,000 after buying an additional 706,181 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Apollo Global Management by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider’s stock worth $412,641,000 after buying an additional 112,736 shares in the last quarter. Boston Partners bought a new stake in shares of Apollo Global Management in the first quarter valued at about $370,543,000. Finally, Allen Investment Management LLC grew its stake in shares of Apollo Global Management by 14.4% in the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider’s stock valued at $361,664,000 after acquiring an additional 333,428 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. BMO Capital Markets began coverage on Apollo Global Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $132.00 price objective on the stock. Evercore ISI increased their target price on Apollo Global Management from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays boosted their price target on Apollo Global Management from $147.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Apollo Global Management Stock Performance

Shares of APO stock opened at $129.13 on Friday. The stock has a market capitalization of $73.87 billion, a PE ratio of 24.14, a PEG ratio of 1.42 and a beta of 1.63. The business’s 50 day simple moving average is $131.03 and its 200 day simple moving average is $136.14. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49.

Apollo Global Management (NYSE:APO) last released its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the firm posted $1.64 earnings per share. As a group, research analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, November 17th. Apollo Global Management’s dividend payout ratio (DPR) is 38.13%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the completion of the sale, the insider directly owned 4,526,000 shares of the company’s stock, valued at approximately $606,619,780. The trade was a 16.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the sale, the chief financial officer owned 332,399 shares of the company’s stock, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their position. The SEC filing for this sale provides additional information. 8.50% of the stock is owned by company insiders.

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.