Strs Ohio Trims Stock Position in Apollo Global Management Inc. $APO

Strs Ohio lessened its holdings in Apollo Global Management Inc. (NYSE:APO) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,076 shares of the financial services provider’s stock after selling 5,182 shares during the period. Strs Ohio’s holdings in Apollo Global Management were worth $34,060,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of APO. Mather Group LLC. lifted its holdings in shares of Apollo Global Management by 1,161.6% in the first quarter. Mather Group LLC. now owns 921 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 848 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Apollo Global Management by 79.7% during the first quarter. Vontobel Holding Ltd. now owns 17,281 shares of the financial services provider’s stock valued at $2,366,000 after buying an additional 7,664 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Apollo Global Management by 1.9% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 47,719 shares of the financial services provider’s stock valued at $6,535,000 after buying an additional 887 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of Apollo Global Management by 97.1% during the first quarter. DAVENPORT & Co LLC now owns 36,695 shares of the financial services provider’s stock valued at $5,025,000 after buying an additional 18,073 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in shares of Apollo Global Management by 449.2% during the first quarter. First Horizon Advisors Inc. now owns 1,340 shares of the financial services provider’s stock valued at $184,000 after buying an additional 1,096 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

APO has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a research note on Wednesday, October 8th. Citigroup reduced their price objective on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Barclays dropped their price target on shares of Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company upped their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and an average target price of $162.57.

Insider Activity

In other news, insider Leon D. Black sold 915,000 shares of the firm’s stock in a transaction 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 owned 4,526,000 shares of the company’s stock, valued at approximately $606,619,780. This trade represents a 16.82% decrease in their position. 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 firm’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the sale, the insider directly owned 83,192 shares of the company’s stock, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 935,000 shares of company stock valued at $125,543,790. Company insiders own 8.20% of the company’s stock.

Apollo Global Management Stock Performance

Shares of APO stock opened at $123.51 on Friday. The company’s fifty day simple moving average is $131.69 and its 200-day simple moving average is $136.07. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. 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 company has a market cap of $70.65 billion, a PE ratio of 23.09, a P/E/G ratio of 1.42 and a beta of 1.68.

Apollo Global Management (NYSE:APO) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $1.64 EPS. As a group, equities research analysts anticipate that Apollo Global Management Inc. will post 8 EPS 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 $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 38.13%.

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.