Catalyst Capital Advisors LLC Has $5.03 Million Position in Apollo Global Management Inc. $APO

Catalyst Capital Advisors LLC cut its holdings in Apollo Global Management Inc. (NYSE:APO) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,418 shares of the financial services provider’s stock after selling 3,304 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Apollo Global Management were worth $5,025,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Apollo Global Management by 61.8% in the 1st quarter. GAMMA Investing LLC now owns 4,478 shares of the financial services provider’s stock valued at $613,000 after buying an additional 1,710 shares during the period. Asset Management One Co. Ltd. grew its position in shares of Apollo Global Management by 6.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 171,195 shares of the financial services provider’s stock worth $23,443,000 after buying an additional 9,732 shares during the period. Perigon Wealth Management LLC grew its position in shares of Apollo Global Management by 6.9% during the 1st quarter. Perigon Wealth Management LLC now owns 5,513 shares of the financial services provider’s stock worth $755,000 after buying an additional 354 shares during the period. SOL Capital Management CO grew its position in shares of Apollo Global Management by 12.0% during the 1st quarter. SOL Capital Management CO now owns 84,952 shares of the financial services provider’s stock worth $11,633,000 after buying an additional 9,122 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in shares of Apollo Global Management by 71.7% during the 1st quarter. Sequoia Financial Advisors LLC now owns 74,136 shares of the financial services provider’s stock worth $10,152,000 after buying an additional 30,967 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Trading Down 2.8%

Apollo Global Management stock opened at $122.97 on Friday. 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 $70.34 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 1.45 and a beta of 1.68. The firm has a 50-day moving average of $132.91 and a 200-day moving average of $135.85. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49.

Apollo Global Management (NYSE:APO) last posted its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. The company had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same quarter last year, the firm earned $1.64 earnings per share. On average, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 annualized dividend and a yield of 1.7%. Apollo Global Management’s dividend payout ratio is currently 38.13%.

Insider Buying and Selling

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the transaction, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leon D. Black sold 915,000 shares of the firm’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 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 disclosure for this sale can be found here. Insiders sold 935,000 shares of company stock valued at $125,543,790 over the last quarter. 8.20% of the stock is owned by company insiders.

Analyst Ratings Changes

APO has been the topic of several analyst reports. 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 report on Friday, July 11th. Piper Sandler restated an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a research note on Wednesday, October 8th. 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 note on Tuesday. Finally, Evercore ISI boosted their price objective on Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $162.57.

Apollo Global Management 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.