Boston Partners Sells 1,189,444 Shares of Apollo Global Management Inc. $APO

Boston Partners decreased its stake in Apollo Global Management Inc. (NYSE:APO) by 43.7% in the second quarter, Holdings Channel.com reports. The firm owned 1,529,577 shares of the financial services provider’s stock after selling 1,189,444 shares during the period. Boston Partners’ holdings in Apollo Global Management were worth $217,297,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. True North Advisors LLC bought a new stake in Apollo Global Management in the first quarter worth about $2,097,000. Goldman Sachs Group Inc. lifted its stake in shares of Apollo Global Management by 24.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock worth $490,482,000 after acquiring an additional 706,181 shares during the last quarter. Dakota Wealth Management purchased a new position in Apollo Global Management during the 1st quarter valued at $297,000. Woodline Partners LP grew its position in Apollo Global Management by 40.7% in the 1st quarter. Woodline Partners LP now owns 37,764 shares of the financial services provider’s stock valued at $5,171,000 after acquiring an additional 10,920 shares during the last quarter. Finally, Jump Financial LLC grew its position in Apollo Global Management by 573.4% in the 1st quarter. Jump Financial LLC now owns 70,393 shares of the financial services provider’s stock valued at $9,640,000 after acquiring an additional 59,939 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In other news, insider Leon D. Black sold 915,000 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the transaction, the insider directly owned 4,526,000 shares of the company’s stock, valued at approximately $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.20% of the company’s stock.

Apollo Global Management Price Performance

Shares of APO stock opened at $132.90 on Wednesday. The stock’s 50-day moving average is $130.78 and its 200 day moving average is $136.36. 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 cap of $76.02 billion, a P/E ratio of 24.84, a PEG ratio of 1.42 and a beta of 1.63.

Apollo Global Management (NYSE:APO) last announced its earnings results on Tuesday, November 4th. The financial services provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.24. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same period in the previous year, the company posted $1.29 earnings per share. The firm’s revenue was down 20.9% on a year-over-year basis. Research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, November 17th. Apollo Global Management’s dividend payout ratio (DPR) is 29.82%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on APO. Morgan Stanley decreased their target price on Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their target price on shares of Apollo Global Management from $162.00 to $173.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. BMO Capital Markets assumed coverage on shares of Apollo Global Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $132.00 price target for the company. Finally, Barclays raised their price objective on Apollo Global Management from $147.00 to $158.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

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.