Apollo Global Management, Inc. (NYSE:APO) Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC reduced its stake in Apollo Global Management, Inc. (NYSE:APO) by 7.4% in the first quarter, HoldingsChannel.com reports. The fund owned 37,935 shares of the financial services provider’s stock after selling 3,035 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Apollo Global Management were worth $5,195,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kestra Private Wealth Services LLC bought a new stake in Apollo Global Management during the fourth quarter worth approximately $3,994,000. Fortress Financial Solutions LLC bought a new stake in Apollo Global Management during the fourth quarter worth approximately $685,000. Leavell Investment Management Inc. raised its holdings in Apollo Global Management by 39.8% during the fourth quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock worth $1,016,000 after purchasing an additional 1,750 shares in the last quarter. Amundi raised its holdings in Apollo Global Management by 13.2% during the fourth quarter. Amundi now owns 801,260 shares of the financial services provider’s stock worth $129,788,000 after purchasing an additional 93,451 shares in the last quarter. Finally, State of Michigan Retirement System bought a new stake in Apollo Global Management during the fourth quarter worth approximately $20,034,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

APO opened at $135.82 on Wednesday. The stock has a fifty day moving average of $130.76 and a 200-day moving average of $149.37. The firm has a market capitalization of $77.62 billion, a P/E ratio of 18.58, a PEG ratio of 1.17 and a beta of 1.59. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month 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.

Apollo Global Management (NYSE:APO) last released its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). The business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $977.14 million. Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. Apollo Global Management’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.72 EPS. Equities analysts forecast that Apollo Global Management, Inc. will post 8 EPS for the current fiscal 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 given a dividend of $0.51 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a yield of 1.50%. Apollo Global Management’s dividend payout ratio (DPR) is presently 35.73%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on APO shares. Wells Fargo & Company boosted their target price on Apollo Global Management from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. Citigroup dropped their price target on Apollo Global Management from $191.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Cowen reaffirmed a “buy” rating on shares of Apollo Global Management in a report on Monday, May 5th. Barclays upped their price target on Apollo Global Management from $145.00 to $156.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Finally, Bank of America upped their price target on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $159.00.

Insider Buying and Selling at Apollo Global Management

In other news, insider Leon D. Black sold 500,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, 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 SEC, which can be accessed through this hyperlink. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of Apollo Global Management stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the purchase, the insider now owns 621,754 shares in the company, valued at $69,257,178.06. The trade was a 4,331.92% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Company 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.