Apollo Global Management, Inc. (NYSE:APO) Shares Sold by Net Worth Advisory Group

Net Worth Advisory Group reduced its holdings in Apollo Global Management, Inc. (NYSE:APO) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,479 shares of the financial services provider’s stock after selling 122 shares during the period. Net Worth Advisory Group’s holdings in Apollo Global Management were worth $476,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Apollo Global Management by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after purchasing an additional 3,691,700 shares during the period. Geode Capital Management LLC boosted its stake in shares of Apollo Global Management by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock worth $1,550,316,000 after acquiring an additional 3,695,979 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Apollo Global Management by 36.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock worth $1,065,615,000 after acquiring an additional 1,739,807 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Apollo Global Management by 50.0% in the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock worth $723,853,000 after acquiring an additional 1,460,689 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Apollo Global Management by 60.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock worth $479,057,000 after acquiring an additional 1,094,464 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

NYSE:APO opened at $138.15 on Friday. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $78.95 billion, a P/E ratio of 18.90, a P/E/G ratio of 1.17 and a beta of 1.59. The stock’s fifty day moving average is $131.88 and its two-hundred day moving average is $149.04.

Apollo Global Management (NYSE:APO) last posted its earnings results on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $977.14 million. During the same quarter in the prior year, the firm earned $1.72 EPS. Apollo Global Management’s revenue for the quarter was down 21.2% compared to the same quarter last year. Equities analysts expect that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Friday, May 16th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is currently 35.73%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the sale, the insider now owns 34,604,773 shares in the company, valued at $4,913,877,766. This represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the business’s stock in a transaction on Friday, April 4th. The shares were bought at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the acquisition, the insider now owns 621,754 shares in the company, valued at $69,257,178.06. This trade represents a 4,331.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. TD Cowen lowered their price target on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Bank of America lifted their price target on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 4th. Morgan Stanley lowered their price target on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company lifted their price target on Apollo Global Management from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Finally, Barclays lifted their price target on Apollo Global Management from $145.00 to $156.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.00.

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.