Apollo Global Management Inc. (NYSE:APO) Shares Sold by TCW Group Inc.

TCW Group Inc. trimmed its stake in Apollo Global Management Inc. (NYSE:APO) by 18.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 378,601 shares of the financial services provider’s stock after selling 84,360 shares during the period. TCW Group Inc.’s holdings in Apollo Global Management were worth $51,846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fourth Dimension Wealth LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $25,000. GW&K Investment Management LLC increased its stake in Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the period. ORG Partners LLC raised its holdings in shares of Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock valued at $32,000 after buying an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in shares of Apollo Global Management during the first quarter worth about $39,000. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Apollo Global Management by 36.0% during the first quarter. Cullen Frost Bankers Inc. now owns 408 shares of the financial services provider’s stock worth $56,000 after buying an additional 108 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the business’s 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 in the company, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.20% of the company’s stock.

Apollo Global Management Stock Performance

NYSE:APO opened at $151.10 on Friday. 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 market capitalization of $86.35 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 1.70 and a beta of 1.59. The firm has a 50-day moving average price of $139.60 and a two-hundred day moving average price of $142.73. Apollo Global Management Inc. has a twelve month low of $95.11 and a twelve month high of $189.49.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 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 business 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 earnings per share. The firm’s revenue for the quarter was down 21.2% compared to the same quarter last year. As a group, research analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced 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. 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 1.35%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is 35.73%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Raymond James Financial initiated coverage on Apollo Global Management in a report on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price target for the company. Wells Fargo & Company raised their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Barclays boosted their target price on Apollo Global Management from $156.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Citigroup increased their price objective on Apollo Global Management from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. Finally, Morgan Stanley reduced their target price on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average price target of $161.00.

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.