Beck Mack & Oliver LLC lessened its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,872,524 shares of the financial services provider's stock after selling 80,718 shares during the quarter. Apollo Global Management accounts for about 7.8% of Beck Mack & Oliver LLC's holdings, making the stock its biggest position. Beck Mack & Oliver LLC owned approximately 0.50% of Apollo Global Management worth $393,363,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in APO. Vanguard Group Inc. increased its stake in shares of Apollo Global Management by 2.0% in the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock valued at $6,303,186,000 after purchasing an additional 893,428 shares during the period. Goldman Sachs Group Inc. grew its position in Apollo Global Management by 24.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock valued at $490,482,000 after purchasing an additional 706,181 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Apollo Global Management by 3.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider's stock valued at $412,641,000 after purchasing an additional 112,736 shares during the period. Boston Partners bought a new stake in Apollo Global Management during the 1st quarter worth approximately $370,543,000. Finally, Allen Investment Management LLC raised its holdings in Apollo Global Management by 14.4% during the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider's stock worth $361,664,000 after buying an additional 333,428 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have commented on APO. Wells Fargo & Company lifted their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Citigroup lifted their price target 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. Evercore ISI upped their price target on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Barclays lifted their price objective on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research report 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 company presently has an average rating of "Moderate Buy" and an average target price of $164.56.
Check Out Our Latest Stock Analysis on Apollo Global Management
Insider Transactions at Apollo Global Management
In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value 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 trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.
Apollo Global Management Trading Down 2.4%
NYSE APO traded down $3.20 during mid-day trading on Wednesday, reaching $132.64. 4,544,644 shares of the stock were exchanged, compared to its average volume of 3,234,820. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49. The stock has a market cap of $75.87 billion, a P/E ratio of 24.79, a P/E/G ratio of 1.47 and a beta of 1.69. The stock has a 50 day simple moving average of $142.98 and a 200-day simple moving average of $138.05. 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 - Get Free Report) last posted its quarterly 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 company had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same period in the prior year, the business posted $1.64 EPS. On average, analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current year.
Apollo Global Management Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a $0.51 dividend. The ex-dividend date was Monday, August 18th. This represents a $2.04 annualized dividend and a yield of 1.5%. Apollo Global Management's dividend payout ratio is presently 38.13%.
Apollo Global Management Profile
(
Free Report)
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.
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