Apollo Global Management Inc. (NYSE:APO) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 4.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 191,845 shares of the financial services provider’s stock after selling 8,942 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Apollo Global Management were worth $26,271,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Cyndeo Wealth Partners LLC lifted its stake in shares of Apollo Global Management by 10.3% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 2,968 shares of the financial services provider’s stock valued at $406,000 after purchasing an additional 278 shares during the last quarter. Howard Bailey Securities LLC purchased a new position in Apollo Global Management during the 1st quarter valued at about $203,000. Factory Mutual Insurance Co. grew its position in Apollo Global Management by 124.1% in the 1st quarter. Factory Mutual Insurance Co. now owns 158,200 shares of the financial services provider’s stock valued at $21,664,000 after acquiring an additional 87,600 shares in the last quarter. Ritholtz Wealth Management increased its stake in Apollo Global Management by 95.5% during the first quarter. Ritholtz Wealth Management now owns 2,709 shares of the financial services provider’s stock worth $371,000 after purchasing an additional 1,323 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its position in shares of Apollo Global Management by 19.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 3,615 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 598 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Trading Down 1.3%

Shares of Apollo Global Management stock opened at $132.39 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $132.87 and a 200-day simple moving average of $147.99. The stock has a market cap of $75.66 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 1.38 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.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. During the same quarter in the prior year, the company earned $1.72 EPS. The business’s revenue was down 21.2% on a year-over-year basis. On average, 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 declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.54%. 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 dividend payout ratio (DPR) is currently 35.73%.

Insiders Place Their Bets

In other Apollo Global Management news, insider Lb 2018 Gst Trust acquired 607,725 shares of the stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the transaction, the insider now owns 621,754 shares of the company’s stock, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Martin Kelly sold 4,000 shares of Apollo Global Management stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the transaction, the chief financial officer now owns 373,164 shares in the company, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. TD Cowen dropped their price objective on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Raymond James Financial assumed coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They issued a “strong-buy” rating and a $173.00 price target for the company. Morgan Stanley reduced their price objective 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. Citigroup decreased their target price on Apollo Global Management from $191.00 to $138.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company upped their price target on Apollo Global Management from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $159.00.

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.