Smithbridge Asset Management Inc. DE Sells 2,817 Shares of Apollo Global Management Inc. $APO

Smithbridge Asset Management Inc. DE lowered its position in Apollo Global Management Inc. (NYSE:APO) by 2.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 98,660 shares of the financial services provider’s stock after selling 2,817 shares during the period. Apollo Global Management accounts for approximately 2.4% of Smithbridge Asset Management Inc. DE’s portfolio, making the stock its 8th largest position. Smithbridge Asset Management Inc. DE’s holdings in Apollo Global Management were worth $13,997,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Apollo Global Management by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock worth $6,303,186,000 after purchasing an additional 893,428 shares during the period. Goldman Sachs Group Inc. lifted its position 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 worth $490,482,000 after purchasing an additional 706,181 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Apollo Global Management by 3.9% in 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 purchasing an additional 112,736 shares during the period. Boston Partners acquired a new position in shares of Apollo Global Management in the 1st quarter worth approximately $370,543,000. Finally, Allen Investment Management LLC lifted its position in shares of Apollo Global Management by 14.4% in the 1st quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider’s stock worth $361,664,000 after purchasing an additional 333,428 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of APO stock opened at $120.86 on Friday. The firm has a market capitalization of $69.14 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68. The firm has a fifty day simple moving average of $134.68 and a two-hundred day simple moving average of $135.85. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same quarter in the previous year, the business posted $1.64 EPS. Analysts forecast that Apollo Global Management Inc. will post 8 EPS 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. Shareholders of record on Monday, August 18th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s payout ratio is currently 38.13%.

Wall Street Analysts Forecast Growth

APO has been the subject of several research analyst reports. Evercore ISI lifted their price objective 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. Barclays lowered their price objective on shares of Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. BMO Capital Markets initiated coverage on shares of Apollo Global Management in a research note on Friday, October 3rd. They issued a “market perform” rating and a $132.00 price objective for the company. Citigroup lowered their price objective on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Monday. Finally, Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. One 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $161.14.

Insiders Place Their Bets

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the transaction, the insider directly owned 83,192 shares of the company’s stock, valued at $12,148,527.76. The trade was a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at $48,234,418.89. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 935,000 shares of company stock valued at $125,543,790 in the last three months. 8.20% of the stock is currently owned by insiders.

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.