Apollo Global Management Inc. $APO Shares Sold by Petrus Trust Company LTA

Petrus Trust Company LTA decreased its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 33.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,802 shares of the financial services provider’s stock after selling 909 shares during the period. Petrus Trust Company LTA’s holdings in Apollo Global Management were worth $247,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Apollo Global Management by 2.0% during the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock worth $6,303,186,000 after purchasing an additional 893,428 shares during the last quarter. Goldman Sachs Group Inc. increased its position in 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 purchasing an additional 706,181 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in 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 purchasing an additional 112,736 shares during the last quarter. Boston Partners acquired a new position in Apollo Global Management during the first quarter worth approximately $370,543,000. Finally, Allen Investment Management LLC increased its position in Apollo Global Management by 14.4% during the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider’s stock worth $361,664,000 after purchasing an additional 333,428 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity

In other news, 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 directly owned 332,399 shares in the company, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Whitney Chatterjee sold 4,500 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the transaction, the insider owned 83,192 shares of the company’s stock, valued at $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 935,000 shares of company stock worth $125,543,790. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Price Performance

Shares of APO stock opened at $134.60 on Wednesday. The company has a market capitalization of $77.00 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.45 and a beta of 1.69. The firm has a fifty day simple moving average of $142.36 and a 200-day simple moving average of $137.22. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49.

Apollo Global Management (NYSE:APO) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same period in the prior year, the firm earned $1.64 earnings per share. Equities research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently commented on APO shares. Barclays upped their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Wells Fargo & Company boosted their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Evercore ISI boosted their price objective on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Finally, Citigroup boosted their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $164.56.

Apollo Global Management 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.