Korea Investment CORP Sells 87,800 Shares of Apollo Global Management Inc. $APO

Korea Investment CORP cut its holdings in Apollo Global Management Inc. (NYSE:APO) by 34.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,723 shares of the financial services provider’s stock after selling 87,800 shares during the period. Korea Investment CORP’s holdings in Apollo Global Management were worth $22,831,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APO. Boston Partners acquired a new position in Apollo Global Management during the 1st quarter worth $370,543,000. Nuveen LLC acquired a new position in Apollo Global Management during the 1st quarter worth $342,335,000. Price T Rowe Associates Inc. MD lifted its position in Apollo Global Management by 36.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock worth $1,065,615,000 after acquiring an additional 1,739,807 shares during the last quarter. Northern Trust Corp lifted its position in Apollo Global Management by 50.0% during the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock worth $723,853,000 after acquiring an additional 1,460,689 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Apollo Global Management by 71.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,599,936 shares of the financial services provider’s stock worth $429,405,000 after acquiring an additional 1,082,825 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity

In other news, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management 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 sale, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of Apollo Global Management stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the sale, the chief financial officer owned 332,399 shares in the company, valued at approximately $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. 8.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on APO shares. UBS Group cut their target price on shares of Apollo Global Management from $170.00 to $155.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company boosted their price objective 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. Piper Sandler dropped their price objective on shares of Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Cowen restated a “buy” rating on shares of Apollo Global Management in a report on Monday, May 5th. Finally, Citigroup boosted their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $163.28.

Apollo Global Management Stock Down 1.2%

Shares of APO stock opened at $135.3990 on Thursday. The stock has a market cap of $77.45 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 1.48 and a beta of 1.62. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49. The stock has a fifty day moving average price of $142.95 and a 200 day moving average price of $139.93. 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 (NYSE:APO) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating 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 business had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business earned $1.64 EPS. Analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, August 18th. Apollo Global Management’s payout ratio is 38.13%.

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.