Diversified Enterprises LLC Has $294,000 Stake in Apollo Global Management Inc. $APO

Diversified Enterprises LLC lessened its position in shares of Apollo Global Management Inc. (NYSE:APO) by 27.9% in the second quarter, HoldingsChannel.com reports. The firm owned 2,073 shares of the financial services provider’s stock after selling 801 shares during the quarter. Diversified Enterprises LLC’s holdings in Apollo Global Management were worth $294,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. GW&K Investment Management LLC raised its stake in shares of 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 worth $26,000 after buying an additional 87 shares during the period. ORG Partners LLC raised its holdings in shares of Apollo Global Management by 285.0% in the 1st 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 period. Farmers & Merchants Investments Inc. acquired a new position in shares of Apollo Global Management during the 1st quarter worth about $39,000. Rise Advisors LLC purchased a new stake in Apollo Global Management during the 1st quarter valued at approximately $42,000. Finally, Meeder Asset Management Inc. raised its stake in shares of Apollo Global Management by 118.6% during the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider’s stock worth $43,000 after buying an additional 172 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

APO stock opened at $137.65 on Friday. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market capitalization of $78.74 billion, a P/E ratio of 25.73, a PEG ratio of 1.48 and a beta of 1.69. The business has a 50-day moving average price of $140.32 and a 200 day moving average price of $137.19.

Apollo Global Management (NYSE:APO) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $1.64 EPS. As a group, equities research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a dividend of $0.51 per share. The ex-dividend date was Monday, August 18th. This represents a $2.04 annualized dividend and a yield of 1.5%. Apollo Global Management’s payout ratio is currently 38.13%.

Insider Buying and Selling

In other news, insider Leon D. Black sold 915,000 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total value of $122,637,450.00. Following the sale, the insider owned 4,526,000 shares of the company’s stock, valued at approximately $606,619,780. The trade was a 16.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the sale, the chief financial officer owned 332,399 shares of the company’s stock, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 935,000 shares of company stock valued at $125,543,790. Insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on APO shares. Citigroup upped their price objective on Apollo Global Management from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. Wells Fargo & Company increased 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 report on Friday, July 11th. Wall Street Zen upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Barclays boosted their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Finally, Evercore ISI upped their price target on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.27.

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.