Amundi Reduces Position in Apollo Global Management Inc. $APO

Key Points

• Amundi has reduced its stake in Apollo Global Management by 3.1%, selling 25,062 shares, and now owns about 0.14% of the firm, valued at $106.29 million.
• Apollo Global Management reported $1.92 EPS for the last quarter, exceeding analyst expectations, with revenues of $6.55 billion, significantly above estimates.
• The company recently declared a quarterly dividend of $0.51 per share, which translates to an annualized yield of 1.6% and a payout ratio of 38.13%.

Amundi lowered its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 3.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 776,198 shares of the financial services provider's stock after selling 25,062 shares during the period. Amundi owned about 0.14% of Apollo Global Management worth $106,293,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new position in Apollo Global Management in the fourth quarter worth about $25,000. GW&K Investment Management LLC lifted its stake in shares of Apollo Global Management by 84.5% in the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares during the period. ORG Partners LLC boosted its holdings in shares of Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after buying an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new stake in Apollo Global Management during the first quarter valued at approximately $39,000. Finally, Meeder Asset Management Inc. increased its holdings in Apollo Global Management by 118.6% during the first quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after buying an additional 172 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on APO. Wall Street Zen upgraded shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Evercore ISI raised their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Wells Fargo & Company boosted their price target on Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Barclays upped their price target on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Citigroup lifted their price objective on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $164.56.

Apollo Global Management Price Performance

NYSE APO traded up $2.74 on Thursday, reaching $136.38. The company had a trading volume of 2,758,296 shares, compared to its average volume of 3,121,288. The stock has a market capitalization of $78.01 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 1.44 and a beta of 1.69. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm's 50 day moving average price is $142.01 and its 200 day moving average price is $137.12.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion during 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 period in the prior year, the company earned $1.64 EPS. As a group, equities 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 disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.51 per share. The ex-dividend date was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. Apollo Global Management's payout ratio is presently 38.13%.

Insider Buying and Selling at Apollo Global Management

In other news, insider Whitney Chatterjee sold 4,500 shares of the business's stock in a transaction 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 completion of the sale, the insider directly owned 83,192 shares of the company's stock, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Martin Kelly sold 15,500 shares of the business's 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 completion of the sale, the chief financial officer directly owned 332,399 shares of the company's stock, 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. Insiders have sold 935,000 shares of company stock valued at $125,543,790 in the last quarter. 8.20% of the stock is owned by insiders.

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.