Apollo Global Management Inc. $APO Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. trimmed its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 18.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,939 shares of the financial services provider’s stock after selling 35,477 shares during the period. Flputnam Investment Management Co.’s holdings in Apollo Global Management were worth $18,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc raised its holdings in Apollo Global Management by 4.5% during the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock worth $522,850,000 after purchasing an additional 155,857 shares in the last quarter. Sandro Wealth Management LLC purchased a new stake in shares of Apollo Global Management during the 4th quarter worth approximately $1,599,000. Louisiana State Employees Retirement System acquired a new position in shares of Apollo Global Management in the 1st quarter valued at $2,641,000. PNC Financial Services Group Inc. boosted its holdings in shares of Apollo Global Management by 13.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 67,512 shares of the financial services provider’s stock valued at $9,773,000 after buying an additional 8,003 shares in the last quarter. Finally, NewEdge Wealth LLC grew its position in shares of Apollo Global Management by 11.2% in the 4th quarter. NewEdge Wealth LLC now owns 77,114 shares of the financial services provider’s stock valued at $11,163,000 after buying an additional 7,748 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the transaction, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.30% of the stock is currently owned by company insiders.

Apollo Global Management Trading Up 1.5%

NYSE:APO opened at $135.39 on Friday. The firm has a market cap of $79.95 billion, a P/E ratio of 49.59, a PEG ratio of 1.22 and a beta of 1.51. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. The stock’s 50 day simple moving average is $126.22 and its 200-day simple moving average is $122.87. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period in the prior year, the business earned $1.92 earnings per share. Equities analysts anticipate that Apollo Global Management Inc. will post 8.08 EPS for the current year.

Apollo Global Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be issued a $0.5625 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. Apollo Global Management’s payout ratio is presently 82.42%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays lifted their price target on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Piper Sandler dropped their price objective on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Morgan Stanley cut their target price on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 21st. TD Cowen reissued a “buy” rating on shares of Apollo Global Management in a report on Thursday, August 6th. Finally, Weiss Ratings raised Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.77.

Apollo Global Management Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.