Apollo Global Management, LLC (APO) Holdings Reduced by HighTower Advisors LLC

HighTower Advisors LLC cut its position in Apollo Global Management, LLC (NYSE:APO) by 61.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,607 shares of the financial services provider’s stock after selling 41,792 shares during the period. HighTower Advisors LLC’s holdings in Apollo Global Management were worth $705,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in APO. Ameriprise Financial Inc. acquired a new position in Apollo Global Management in the first quarter valued at about $234,000. FMR LLC boosted its position in Apollo Global Management by 2.8% in the first quarter. FMR LLC now owns 8,216,804 shares of the financial services provider’s stock valued at $199,833,000 after buying an additional 223,452 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Apollo Global Management by 6.0% in the first quarter. PNC Financial Services Group Inc. now owns 41,252 shares of the financial services provider’s stock valued at $1,003,000 after buying an additional 2,350 shares in the last quarter. Legal & General Group Plc boosted its position in Apollo Global Management by 6.7% in the first quarter. Legal & General Group Plc now owns 439,743 shares of the financial services provider’s stock valued at $10,688,000 after buying an additional 27,619 shares in the last quarter. Finally, Global X Management Co. LLC acquired a new position in Apollo Global Management in the first quarter valued at about $161,000. Hedge funds and other institutional investors own 73.58% of the company’s stock.

Shares of Apollo Global Management, LLC (APO) opened at 31.13 on Friday. The company has a market capitalization of $6.04 billion, a P/E ratio of 12.19 and a beta of 1.20. Apollo Global Management, LLC has a 1-year low of $17.38 and a 1-year high of $31.69. The company’s 50 day moving average is $29.84 and its 200-day moving average is $27.83.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). The firm had revenue of $432.87 million during the quarter, compared to analyst estimates of $455.29 million. Apollo Global Management had a return on equity of 59.61% and a net margin of 21.79%. The firm’s revenue for the quarter was down 34.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. On average, equities research analysts forecast that Apollo Global Management, LLC will post $2.50 EPS for the current year.

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In other news, major shareholder Tiger Global Management Llc purchased 100,916 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were purchased at an average price of $27.36 per share, for a total transaction of $2,761,061.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert K. Kraft purchased 30,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average price of $28.88 per share, for a total transaction of $866,400.00. The disclosure for this purchase can be found here. Insiders bought a total of 1,399,918 shares of company stock worth $39,210,819 in the last 90 days. Corporate insiders own 4.11% of the company’s stock.

A number of equities analysts have commented on APO shares. Jefferies Group LLC restated a “buy” rating on shares of Apollo Global Management in a research report on Friday, June 30th. Oppenheimer Holdings, Inc. boosted their price target on shares of Apollo Global Management from $31.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, July 14th. BidaskClub upgraded shares of Apollo Global Management from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. JMP Securities restated an “outperform” rating and issued a $32.00 price target on shares of Apollo Global Management in a research report on Friday, August 4th. Finally, Zacks Investment Research upgraded shares of Apollo Global Management from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Tuesday, October 10th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $30.50.

Apollo Global Management Company Profile

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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