Apollo Global Management Inc. $APO Stake Lessened by Naples Global Advisors LLC

Naples Global Advisors LLC decreased its position in shares of Apollo Global Management Inc. (NYSE:APO) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,465 shares of the financial services provider’s stock after selling 165 shares during the period. Naples Global Advisors LLC’s holdings in Apollo Global Management were worth $633,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APO. GW&K Investment Management LLC lifted its holdings in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after buying an additional 87 shares during the period. ORG Partners LLC lifted its holdings in Apollo Global Management by 285.0% in the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new position in shares of Apollo Global Management during the 1st quarter valued at about $39,000. Rise Advisors LLC acquired a new position in shares of Apollo Global Management in the 1st quarter worth approximately $42,000. Finally, Meeder Asset Management Inc. grew its stake in shares of Apollo Global Management by 118.6% in the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 172 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays increased their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Wall Street Zen lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Apollo Global Management in a report on Saturday, September 27th. 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 report on Wednesday, August 6th. Finally, Citigroup lifted their price target on 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 investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.07.

Apollo Global Management Stock Performance

APO stock opened at $125.81 on Friday. The firm has a 50 day simple moving average of $138.35 and a 200 day simple moving average of $137.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The stock has a market cap of $71.97 billion, a P/E ratio of 23.52, a P/E/G ratio of 1.37 and a beta of 1.68.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data 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. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The firm had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm earned $1.64 earnings per share. Research analysts anticipate 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. Shareholders of record on Monday, August 18th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 38.13%.

Insider Transactions at Apollo Global Management

In related news, insider Leon D. Black sold 915,000 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 4,526,000 shares in the company, valued at $606,619,780. The trade was a 16.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Whitney Chatterjee sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were 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 of the company’s stock, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 935,000 shares of company stock worth $125,543,790. 8.20% of the stock is currently owned by company insiders.

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.