Envestnet Portfolio Solutions Inc. Reduces Holdings in Apollo Global Management Inc. $APO

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Apollo Global Management Inc. (NYSE:APO) by 17.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,001 shares of the financial services provider’s stock after selling 1,943 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Apollo Global Management were worth $1,277,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Apollo Global Management by 1.4% during the first quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider’s stock worth $75,347,000 after buying an additional 7,441 shares during the period. Clearview Wealth Advisors LLC grew its holdings in shares of Apollo Global Management by 420.7% in the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider’s stock worth $2,952,000 after purchasing an additional 17,418 shares during the last quarter. True North Advisors LLC bought a new position in shares of Apollo Global Management in the first quarter worth about $2,097,000. Pinnacle Financial Partners Inc grew its holdings in shares of Apollo Global Management by 4.9% in the first quarter. Pinnacle Financial Partners Inc now owns 92,624 shares of the financial services provider’s stock worth $12,684,000 after purchasing an additional 4,341 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in shares of Apollo Global Management by 25.3% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 11,749 shares of the financial services provider’s stock worth $1,609,000 after purchasing an additional 2,375 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on APO. Weiss Ratings restated a “hold (c)” rating on shares of Apollo Global Management in a report on Wednesday, October 8th. BMO Capital Markets began coverage on shares of Apollo Global Management in a report on Friday, October 3rd. They issued a “market perform” rating and a $132.00 price target on the stock. Evercore ISI upped their price target on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Wells Fargo & Company upped their price target 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. Finally, Piper Sandler restated an “overweight” rating on shares of Apollo Global Management in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus target price of $161.14.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider directly owned 83,192 shares of the company’s stock, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 915,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $606,619,780. The trade was a 16.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 935,000 shares of company stock valued at $125,543,790. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Stock Up 0.6%

Shares of Apollo Global Management stock opened at $121.55 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. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49. The firm’s 50-day moving average is $134.27 and its two-hundred day moving average is $135.69. The stock has a market cap of $69.53 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.39 and a beta of 1.68.

Apollo Global Management (NYSE:APO) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The company had revenue of $6,550,000 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the business earned $1.64 EPS. As a group, research analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s dividend payout ratio is presently 38.13%.

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.