Bellwether Advisors LLC Cuts Stake in Apollo Global Management Inc. (NYSE:APO)

Bellwether Advisors LLC cut its stake in Apollo Global Management Inc. (NYSE:APO) by 96.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 481 shares of the financial services provider’s stock after selling 13,436 shares during the quarter. Bellwether Advisors LLC’s holdings in Apollo Global Management were worth $66,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter worth about $25,000. GW&K Investment Management LLC increased its position in shares of Apollo Global Management by 84.5% during the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares during the last quarter. ORG Partners LLC increased its position in shares of Apollo Global Management by 285.0% during the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in shares of Apollo Global Management during the first quarter worth about $39,000. Finally, Cullen Frost Bankers Inc. increased its position 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 acquiring an additional 108 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the sale, the chief financial officer owned 373,164 shares of the company’s stock, valued at $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APO. Citigroup lifted their target price 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. Morgan Stanley decreased their price target 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. UBS Group decreased their price target on Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company lifted their price target on Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Finally, Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and an average target price of $161.00.

Apollo Global Management Stock Performance

Shares of APO stock opened at $151.10 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average of $139.60 and a two-hundred day moving average of $142.73. Apollo Global Management Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The company has a market cap of $86.35 billion, a P/E ratio of 26.46, a PEG ratio of 1.70 and a beta of 1.59.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.02). The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 21.2% on a year-over-year basis. During the same period last year, the firm posted $1.72 EPS. As a group, analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, May 16th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is 35.73%.

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.