Insider Selling: Apollo Global Management (NYSE:APO) CFO Sells $422,520.00 in Stock

Apollo Global Management Inc. (NYSE:APO) CFO Martin Kelly sold 3,000 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the sale, the chief financial officer 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $133.59 on Thursday. The firm has a 50 day moving average of $126.74 and a 200-day moving average of $122.71. The stock has a market capitalization of $78.89 billion, a PE ratio of 48.94, a PEG ratio of 1.20 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. 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 posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($0.05). The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.During the same quarter in the prior year, the business posted $1.92 EPS. On average, equities research analysts predict that Apollo Global Management Inc. will post 8.12 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

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

Institutional Trading of Apollo Global Management

Several hedge funds and other institutional investors have recently made changes to their positions in APO. Sunbelt Securities Inc. boosted its position in Apollo Global Management by 16.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock worth $75,000 after buying an additional 82 shares during the period. Broadway Wealth Solutions Inc. raised its stake in shares of Apollo Global Management by 3.8% during the fourth quarter. Broadway Wealth Solutions Inc. now owns 2,388 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 87 shares during the last quarter. First Horizon Corp raised its stake in shares of Apollo Global Management by 8.1% during the fourth quarter. First Horizon Corp now owns 1,228 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 92 shares during the last quarter. Physician Wealth Advisors Inc. lifted its holdings in shares of Apollo Global Management by 57.8% during the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 96 shares during the period. Finally, Glen Eagle Advisors LLC lifted its holdings in shares of Apollo Global Management by 33.3% during the fourth quarter. Glen Eagle Advisors LLC now owns 384 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 96 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

APO has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Royal Bank Of Canada raised their price target on shares of Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Piper Sandler decreased their price target on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Barclays upped their price objective on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Finally, BMO Capital Markets cut their target price on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $152.77.

About Apollo Global Management

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.