Fulton Breakefield Broenniman LLC Sells 255 Shares of Apollo Global Management Inc. $APO

Fulton Breakefield Broenniman LLC lessened its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,286 shares of the financial services provider’s stock after selling 255 shares during the period. Apollo Global Management makes up about 1.2% of Fulton Breakefield Broenniman LLC’s investment portfolio, making the stock its 23rd largest holding. Fulton Breakefield Broenniman LLC’s holdings in Apollo Global Management were worth $18,058,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd grew its holdings in Apollo Global Management by 14.4% during the first quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 78 shares during the period. Walled Lake Planning & Wealth Management LLC grew its holdings in Apollo Global Management by 3.3% during the first quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider’s stock valued at $345,000 after purchasing an additional 80 shares during the period. GW&K Investment Management LLC lifted its position 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 acquiring an additional 87 shares in the last quarter. CVA Family Office LLC lifted its position in shares of Apollo Global Management by 19.7% in the first quarter. CVA Family Office LLC now owns 534 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 88 shares in the last quarter. Finally, World Investment Advisors lifted its position in shares of Apollo Global Management by 1.3% in the first quarter. World Investment Advisors now owns 7,089 shares of the financial services provider’s stock valued at $971,000 after acquiring an additional 93 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays lowered their price objective on Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday. Evercore ISI boosted their price objective 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. BMO Capital Markets assumed coverage on Apollo Global Management in a research report on Friday, October 3rd. They issued a “market perform” rating and a $132.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Apollo Global Management in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price objective 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. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $162.57.

Insider Activity

In other news, insider Whitney Chatterjee sold 4,500 shares of the company’s stock in a transaction that occurred 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 transaction, the insider owned 83,192 shares of the company’s stock, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Leon D. Black sold 915,000 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the transaction, the insider directly owned 4,526,000 shares in the company, valued at approximately $606,619,780. This represents a 16.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 935,000 shares of company stock valued at $125,543,790. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Trading Down 1.0%

Shares of APO stock opened at $124.74 on Thursday. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The stock’s 50 day simple moving average is $137.05 and its two-hundred day simple moving average is $136.65. The company has a market cap of $71.35 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 1.36 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The business had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business posted $1.64 earnings per share. Research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. Apollo Global Management’s dividend payout ratio is currently 38.13%.

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.