Apollo Global Management Inc. $APO Shares Sold by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP reduced its holdings in Apollo Global Management by 57.5% in Q1, selling 8,475 shares and now owning 6,271 shares valued at approximately $859,000.
• Apollo Global Management reported $1.92 earnings per share for the latest quarter, surpassing analyst expectations of $1.84, with a revenue of $6.55 billion.
• The company announced a quarterly dividend of $0.51 per share, translating to an annualized dividend of $2.04 and a dividend yield of 1.5%.

Concentric Capital Strategies LP lessened its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 57.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,271 shares of the financial services provider's stock after selling 8,475 shares during the period. Concentric Capital Strategies LP's holdings in Apollo Global Management were worth $859,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC bought a new stake in shares of Apollo Global Management during the 4th quarter valued at $25,000. GW&K Investment Management LLC raised its position in shares of Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after buying an additional 87 shares in the last quarter. ORG Partners LLC raised its position in shares of Apollo Global Management by 285.0% during the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after buying an additional 171 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in shares of Apollo Global Management during the 1st quarter valued at about $39,000. Finally, Meeder Asset Management Inc. grew its holdings in Apollo Global Management by 118.6% during the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 172 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the completion of the transaction, the insider directly owned 4,526,000 shares in the company, valued at approximately $606,619,780. This trade represents a 16.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 15,500 shares of the firm'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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 935,000 shares of company stock worth $125,543,790 over the last 90 days. Company insiders own 8.50% of the company's stock.

Apollo Global Management Trading Up 1.0%

Shares of APO stock traded up $1.37 during trading hours on Wednesday, hitting $135.79. The company had a trading volume of 902,128 shares, compared to its average volume of 3,586,120. The company's fifty day moving average is $142.36 and its 200 day moving average is $137.22. 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 Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The stock has a market capitalization of $77.68 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.45 and a beta of 1.69.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data 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. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The company had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm posted $1.64 EPS. Research analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.