ProShare Advisors LLC Has $14.17 Million Stake in Apollo Global Management Inc. $APO

ProShare Advisors LLC trimmed its position in shares of Apollo Global Management Inc. (NYSE:APO) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,893 shares of the financial services provider’s stock after selling 4,774 shares during the period. ProShare Advisors LLC’s holdings in Apollo Global Management were worth $14,172,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Apollo Global Management by 2.0% during the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock valued at $6,303,186,000 after acquiring an additional 893,428 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Apollo Global Management by 24.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock valued at $490,482,000 after buying an additional 706,181 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Apollo Global Management by 3.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider’s stock worth $412,641,000 after acquiring an additional 112,736 shares during the period. Boston Partners bought a new position in shares of Apollo Global Management during the 1st quarter worth about $370,543,000. Finally, Allen Investment Management LLC boosted its position in shares of Apollo Global Management by 14.4% during the 1st quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider’s stock valued at $361,664,000 after acquiring an additional 333,428 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the sale, the insider directly owned 4,526,000 shares in the company, valued at $606,619,780. This trade represents a 16.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday. Keefe, Bruyette & Woods increased their target price on Apollo Global Management from $162.00 to $173.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Morgan Stanley decreased their price target on Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Evercore ISI increased their target price on shares of Apollo Global Management from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Apollo Global Management in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Apollo Global Management Price Performance

NYSE APO opened at $132.90 on Wednesday. The firm’s 50 day moving average is $130.78 and its 200-day moving average is $136.36. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $76.02 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 1.42 and a beta of 1.63.

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

Apollo Global Management Announces Dividend

The business 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 dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, November 17th. Apollo Global Management’s payout ratio is presently 29.82%.

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.