Apollo Global Management Inc. $APO Position Cut by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. sold 2,300 shares of Apollo Global Management, reducing its holdings by 1.0% to 230,800 shares, valued at approximately $29.26 million.
• Several institutional investors also adjusted their positions in Apollo Global Management, with Clearview Wealth Advisors LLC increasing its stake by 420.7% and Principal Financial Group Inc. increasing its stake by 1.4% in the first quarter.
• Apollo Global Management's recent earnings report showed an EPS of $1.92, surpassing consensus estimates, and the company declared a quarterly dividend of $0.51 per share, yielding 1.5% annually.

APG Asset Management N.V. lowered its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,800 shares of the financial services provider's stock after selling 2,300 shares during the quarter. APG Asset Management N.V.'s holdings in Apollo Global Management were worth $29,259,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Boston Partners acquired a new stake in Apollo Global Management during the 1st quarter valued at approximately $370,543,000. Nuveen LLC acquired a new position in shares of Apollo Global Management in the 1st quarter valued at approximately $342,335,000. Northern Trust Corp boosted its stake in shares of 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 valued at $723,853,000 after buying an additional 1,460,689 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Apollo Global Management by 71.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,599,936 shares of the financial services provider's stock worth $429,405,000 after buying an additional 1,082,825 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Apollo Global Management by 2.0% during the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock worth $6,303,186,000 after buying an additional 893,428 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 15,500 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the sale, the chief financial officer owned 332,399 shares of the company's stock, valued at $48,234,418.89. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on APO shares. Wells Fargo & Company upped their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Citigroup upped their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Wall Street Zen upgraded Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Evercore ISI boosted their price objective on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Finally, Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Apollo Global Management currently has an average rating of "Moderate Buy" and a consensus target price of $163.28.

Apollo Global Management Stock Performance

NYSE APO traded up $0.58 during trading hours on Tuesday, reaching $134.47. The company's stock had a trading volume of 3,634,413 shares, compared to its average volume of 3,352,375. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $142.95 and a 200 day simple moving average of $138.90. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The stock has a market cap of $76.92 billion, a PE ratio of 25.14, a PEG ratio of 1.44 and a beta of 1.62.

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 the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion during the quarter, compared to analyst estimates 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 earnings per share. Equities research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given a $0.51 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.04 annualized dividend and a yield of 1.5%. Apollo Global Management's dividend payout ratio (DPR) is currently 38.13%.

Apollo Global Management 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.