Institute for Wealth Management LLC. Has $874,000 Holdings in Apollo Global Management Inc. $APO

Institute for Wealth Management LLC. lessened its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 19.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,162 shares of the financial services provider’s stock after selling 1,451 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Apollo Global Management were worth $874,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Broadway Wealth Solutions Inc. increased its position in Apollo Global Management by 11.1% during the second quarter. Broadway Wealth Solutions Inc. now owns 2,169 shares of the financial services provider’s stock worth $308,000 after buying an additional 216 shares during the last quarter. Robbins Farley increased its position in Apollo Global Management by 2.2% during the second quarter. Robbins Farley now owns 24,769 shares of the financial services provider’s stock worth $3,514,000 after buying an additional 523 shares during the last quarter. Greenleaf Trust increased its position in Apollo Global Management by 19.4% during the second quarter. Greenleaf Trust now owns 2,886 shares of the financial services provider’s stock worth $409,000 after buying an additional 468 shares during the last quarter. HB Wealth Management LLC increased its position in Apollo Global Management by 26.9% during the second quarter. HB Wealth Management LLC now owns 11,809 shares of the financial services provider’s stock worth $1,675,000 after buying an additional 2,500 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its position in Apollo Global Management by 23.4% during the second quarter. Moss Adams Wealth Advisors LLC now owns 3,065 shares of the financial services provider’s stock worth $435,000 after buying an additional 581 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Trading Down 2.4%

Shares of APO stock opened at $130.05 on Thursday. 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 cap of $74.39 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 1.43 and a beta of 1.68. The stock has a 50 day simple moving average of $139.35 and a 200 day simple moving average of $137.19. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) 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 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 period in the previous year, the company posted $1.64 earnings per share. On average, research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s payout ratio is 38.13%.

Insiders Place Their Bets

In other Apollo Global Management 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 transaction of $657,135.00. Following the completion of the sale, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $2,249,205.00. Following the sale, 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. Insiders sold 935,000 shares of company stock worth $125,543,790 over the last three months. Insiders own 8.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays upped their target price on Apollo Global Management from $156.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Wells Fargo & Company upped their target price on Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Evercore ISI upped their target price on Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Wall Street Zen raised Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Citigroup upped their target price 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 research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $167.93.

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.