Whittier Trust Co. Purchases 191 Shares of Apollo Global Management Inc. $APO

Whittier Trust Co. lifted its position in Apollo Global Management Inc. (NYSE:APO) by 3.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 6,570 shares of the financial services provider’s stock after buying an additional 191 shares during the period. Whittier Trust Co.’s holdings in Apollo Global Management were worth $932,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in APO. Boston Partners bought a new position in shares of Apollo Global Management in the first quarter worth $370,543,000. Nuveen LLC bought a new position in shares of Apollo Global Management in the first quarter worth $342,335,000. Vanguard Group Inc. increased its holdings in shares of Apollo Global Management by 2.0% in the first 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. increased its holdings in shares of Apollo Global Management by 24.6% in the first 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. Finally, Alliancebernstein L.P. increased its holdings in shares of Apollo Global Management by 33.0% in the first quarter. Alliancebernstein L.P. now owns 2,473,614 shares of the financial services provider’s stock worth $338,737,000 after purchasing an additional 613,124 shares during the period. Institutional investors own 77.06% of the company’s stock.

Insider Activity

In other news, 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 completion of the sale, the insider directly owned 4,526,000 shares in the company, valued at approximately $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the transaction, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have 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 Down 2.8%

Shares of NYSE:APO opened at $122.97 on Friday. The stock’s 50-day moving average price is $132.91 and its 200-day moving average price is $135.85. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The stock has a market capitalization of $70.34 billion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 1.45 and a beta of 1.68. 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 (NYSE:APO) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The firm had revenue of $6,550,000 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm earned $1.64 earnings per share. On average, equities analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis 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 (DPR) is 38.13%.

Analyst Ratings Changes

APO has been the topic of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a report on Tuesday, October 7th. Citigroup reduced their target price on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Wells Fargo & Company increased their target price on Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Wall Street Zen cut Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.57.

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.