Apollo Global Management Inc. $APO Stake Lowered by IFP Advisors Inc

IFP Advisors Inc cut its stake in Apollo Global Management Inc. (NYSE:APO) by 42.6% during the second quarter, HoldingsChannel reports. The fund owned 13,150 shares of the financial services provider’s stock after selling 9,749 shares during the quarter. IFP Advisors Inc’s holdings in Apollo Global Management were worth $1,556,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Sunbelt Securities Inc. grew its stake in Apollo Global Management by 16.9% in the third quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 82 shares in the last quarter. Glen Eagle Advisors LLC increased its position in Apollo Global Management by 33.3% in the 4th quarter. Glen Eagle Advisors LLC now owns 384 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 96 shares during the last quarter. Kestra Investment Management LLC increased its position in Apollo Global Management by 2.1% in the 4th quarter. Kestra Investment Management LLC now owns 4,725 shares of the financial services provider’s stock worth $684,000 after purchasing an additional 99 shares during the last quarter. Ramirez Asset Management Inc. raised its stake in shares of Apollo Global Management by 25.0% during the 4th quarter. Ramirez Asset Management Inc. now owns 500 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 100 shares in the last quarter. Finally, Prudential PLC raised its stake in shares of Apollo Global Management by 1.6% during the 4th quarter. Prudential PLC now owns 6,502 shares of the financial services provider’s stock worth $941,000 after purchasing an additional 100 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. This represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.30% of the company’s stock.

Apollo Global Management Stock Performance

APO opened at $129.12 on Friday. The firm has a market capitalization of $76.25 billion, a P/E ratio of 47.30, a price-to-earnings-growth ratio of 1.13 and a beta of 1.52. The stock’s 50 day moving average price is $128.32 and its two-hundred day moving average price is $123.33. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the firm earned $1.92 earnings per share. On average, equities analysts forecast that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were given a dividend of $0.5625 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. Apollo Global Management’s payout ratio is 82.42%.

Analysts Set New Price Targets

Several equities research analysts recently commented on APO shares. TD Cowen reissued a “buy” rating on shares of Apollo Global Management in a research note on Thursday, August 6th. HSBC assumed coverage on Apollo Global Management in a report on Monday, July 20th. They issued a “buy” rating and a $145.00 price objective on the stock. Royal Bank Of Canada lifted their target price on shares of Apollo Global Management from $137.00 to $146.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. UBS Group boosted their target price on shares of Apollo Global Management from $157.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $152.15.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative asset manager that provides investment management and retirement services. The company serves institutional investors, businesses and individual investors through a range of strategies focused on private equity, credit, real assets and other long-term investments.

Apollo’s asset-management business invests across industries and geographies, with activities that include corporate and structured credit, private equity, infrastructure, real estate and hybrid strategies.