Apollo Global Management (NYSE:APO) CFO Sells 3,000 Shares of Stock

Apollo Global Management Inc. (NYSE:APO) CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the sale, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Apollo Global Management Stock Performance

APO stock traded down $5.85 during trading hours on Monday, reaching $134.91. The stock had a trading volume of 4,468,719 shares, compared to its average volume of 4,600,178. The stock has a 50-day simple moving average of $126.53 and a 200 day simple moving average of $122.69. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29. The stock has a market capitalization of $79.67 billion, a PE ratio of 49.42, a price-to-earnings-growth ratio of 1.26 and a beta of 1.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.During the same quarter in the prior year, the firm earned $1.92 earnings per share. Analysts predict that Apollo Global Management Inc. will post 8.12 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be issued a dividend of $0.5625 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. Apollo Global Management’s dividend payout ratio (DPR) is presently 82.42%.

Analyst Ratings Changes

APO has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. BMO Capital Markets reduced their target price on Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating for the company in a research note on Monday, July 13th. Wall Street Zen lowered Apollo Global Management from a “sell” rating to a “strong sell” rating in a report on Monday, August 10th. Piper Sandler dropped their price target on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a research note on Monday, July 13th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Apollo Global Management in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $152.77.

Institutional Investors Weigh In On Apollo Global Management

Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc grew its stake in shares of Apollo Global Management by 4.5% in the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock worth $522,850,000 after purchasing an additional 155,857 shares during the last quarter. Sandro Wealth Management LLC bought a new position in Apollo Global Management during the 4th quarter worth $1,599,000. Asset Management One Co. Ltd. lifted its holdings in Apollo Global Management by 6.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 189,744 shares of the financial services provider’s stock worth $27,936,000 after buying an additional 10,876 shares during the period. Vanguard Group Inc. lifted its holdings in Apollo Global Management by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock worth $6,913,826,000 after buying an additional 340,956 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Apollo Global Management by 16.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,916 shares of the financial services provider’s stock valued at $14,319,000 after buying an additional 13,625 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.