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

Assetmark Inc. lowered its position in shares of Apollo Global Management Inc. (NYSE:APO) by 27.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 76,132 shares of the financial services provider’s stock after selling 29,495 shares during the quarter. Assetmark Inc.’s holdings in Apollo Global Management were worth $10,425,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pictet Asset Management Holding SA lifted its position in Apollo Global Management by 12.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 172,195 shares of the financial services provider’s stock valued at $28,440,000 after purchasing an additional 19,381 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in shares of Apollo Global Management by 3.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 13,276 shares of the financial services provider’s stock valued at $2,193,000 after buying an additional 485 shares during the period. Brown Brothers Harriman & Co. boosted its stake in shares of Apollo Global Management by 13.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,826 shares of the financial services provider’s stock worth $467,000 after buying an additional 333 shares during the last quarter. Allstate Corp purchased a new stake in shares of Apollo Global Management in the fourth quarter worth about $1,930,000. Finally, Allianz SE acquired a new stake in Apollo Global Management during the fourth quarter worth about $200,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 0.4%

Shares of NYSE APO opened at $151.10 on Monday. 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 50-day moving average of $139.60 and a 200 day moving average of $142.60. The stock has a market cap of $86.35 billion, a PE ratio of 26.46, a P/E/G ratio of 1.70 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 posted 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 return on equity of 13.45% and a net margin of 14.59%. The company had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $977.14 million. During the same quarter in the prior year, the firm earned $1.72 EPS. The firm’s revenue was down 21.2% on a year-over-year basis. As a group, sell-side analysts predict that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.35%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. Apollo Global Management’s dividend payout ratio is presently 35.73%.

Analysts Set New Price Targets

A number of research analysts have issued reports on APO shares. 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 report on Thursday, May 1st. Bank of America increased their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 4th. Citigroup lifted their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, July 10th. Morgan Stanley decreased their price objective on shares of Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Finally, Wells Fargo & Company raised their target price on Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $161.00.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of Apollo Global Management 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 sale, the chief financial officer owned 373,164 shares in the company, valued at $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% 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.