Wealthfront Advisers LLC Sells 8,333 Shares of Apollo Global Management Inc. $APO

Wealthfront Advisers LLC trimmed its holdings in Apollo Global Management Inc. (NYSE:APO) by 17.6% in the second quarter, Holdings Channel reports. The institutional investor owned 39,069 shares of the financial services provider’s stock after selling 8,333 shares during the period. Wealthfront Advisers LLC’s holdings in Apollo Global Management were worth $5,543,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised 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 valued at $6,303,186,000 after buying an additional 893,428 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Apollo Global Management by 24.6% during 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 acquiring an additional 706,181 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Apollo Global Management by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider’s stock worth $412,641,000 after acquiring an additional 112,736 shares during the period. Boston Partners acquired a new stake in Apollo Global Management during the 1st quarter valued at 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.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays lowered their price objective on Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. Evercore ISI increased their price target on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. 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. Wells Fargo & Company increased their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Finally, BMO Capital Markets initiated coverage on shares of Apollo Global Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $132.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $162.57.

Apollo Global Management Trading Down 1.4%

NYSE:APO opened at $124.59 on Wednesday. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The firm has a 50-day moving average price of $132.11 and a two-hundred day moving average price of $136.17. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a market cap of $71.27 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 1.44 and a beta of 1.68.

Apollo Global Management (NYSE:APO) last announced 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 firm had revenue of $6,550,000 billion for 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 in the previous year, the business earned $1.64 EPS. On average, equities analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently declared 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 was Monday, August 18th. This represents a $2.04 annualized dividend and a yield of 1.6%. Apollo Global Management’s dividend payout ratio is presently 38.13%.

Insider Buying and Selling

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the sale, the insider 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction that occurred 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. This represents a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 935,000 shares of company stock worth $125,543,790. Insiders own 8.50% of the company’s stock.

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.