Bingham Private Wealth LLC Sells 232 Shares of Apollo Global Management Inc. (NYSE:APO)

Bingham Private Wealth LLC lessened its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 9.5% during the 1st quarter, Holdings Channel reports. The firm owned 2,206 shares of the financial services provider’s stock after selling 232 shares during the period. Bingham Private Wealth LLC’s holdings in Apollo Global Management were worth $302,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Apollo Global Management by 245.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock valued at $438,196,000 after purchasing an additional 1,886,146 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Apollo Global Management by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider’s stock valued at $75,347,000 after purchasing an additional 7,441 shares in the last quarter. Blue Whale Capital LLP purchased a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $47,400,000. Clearview Wealth Advisors LLC lifted its position in shares of Apollo Global Management by 420.7% in the 1st quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider’s stock worth $2,952,000 after purchasing an additional 17,418 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Apollo Global Management by 209.0% during the fourth quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider’s stock valued at $26,864,000 after purchasing an additional 110,014 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup upped their target price on Apollo Global Management from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. Morgan Stanley decreased their price objective on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Raymond James Financial began coverage on Apollo Global Management in a research report on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price objective on the stock. TD Cowen reduced their target price 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. Finally, Barclays increased their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. 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 given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $161.00.

Apollo Global Management Price Performance

NYSE:APO opened at $152.19 on Friday. The firm’s fifty day moving average is $138.96 and its two-hundred day moving average is $143.25. The firm has a market cap of $86.98 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.71 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. Apollo Global Management Inc. has a one year low of $95.11 and a one year high of $189.49.

Apollo Global Management (NYSE:APO) last posted its earnings results 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). The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The business’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.72 earnings per share. Research analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Friday, May 16th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is presently 35.73%.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the transaction, the chief financial officer directly owned 373,164 shares of the company’s stock, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.20% of the company’s stock.

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.