Apollo Global Management Inc. $APO Shares Sold by IFP Advisors Inc

Key Points

• IFP Advisors cut its Apollo Global Management stake by 42.6% in the second quarter, selling 9,749 shares and retaining 13,150 shares valued at approximately $1.56 million.
• Institutional ownership remains substantial at 77.06%, with several funds—including Baird Financial and Northern Right Capital—adding to their Apollo positions during the quarter.
• Apollo reported quarterly EPS of $2.11, below the $2.16 consensus estimate, while revenue of $5.57 billion also missed expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $152.15, and the company pays a $2.25 annualized dividend yielding about 1.7%.

IFP Advisors Inc decreased its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 42.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,150 shares of the financial services provider's stock after selling 9,749 shares during the period. IFP Advisors Inc's holdings in Apollo Global Management were worth $1,556,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Schnieders Capital Management LLC. bought a new position in Apollo Global Management during the 2nd quarter worth approximately $7,954,000. Baird Financial Group Inc. increased its holdings in shares of Apollo Global Management by 117.5% in the 2nd quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider's stock valued at $2,287,000 after acquiring an additional 8,709 shares during the last quarter. Gamco Investors INC. ET AL raised its position in shares of Apollo Global Management by 4.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider's stock valued at $949,000 after acquiring an additional 305 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Apollo Global Management during the 2nd quarter valued at approximately $722,000. Finally, Northern Right Capital Management L.P. lifted its stake in Apollo Global Management by 1.5% during the second quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider's stock worth $24,542,000 after purchasing an additional 2,500 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $129.12 on Friday. The company's fifty day moving average is $128.32 and its two-hundred day moving average is $123.33. The company has a market cap 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. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. 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 (NYSE:APO - Get Free Report) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.05). The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.During the same period last year, the business earned $1.92 EPS. Equities analysts expect that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were given a dividend of $0.5625 per share. The ex-dividend date was Wednesday, August 19th. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. Apollo Global Management's dividend payout ratio (DPR) is presently 82.42%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Weiss Ratings upgraded shares of Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Piper Sandler reduced their price target on shares of Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating on the stock in a research report on Monday, July 13th. Wall Street Zen raised shares of Apollo Global Management from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 18th. BMO Capital Markets lowered their price objective on shares of Apollo Global Management from $140.00 to $126.00 and set a "market perform" rating for the company in a research report on Monday, July 13th. Finally, Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a "hold" rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Apollo Global Management has a consensus rating of "Moderate Buy" and a consensus price target of $152.15.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the transaction, the chief financial officer owned 396,533 shares of the company's stock, valued at $55,847,707.72. The trade was a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.30% of the stock is currently owned by company insiders.

About Apollo Global Management

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.

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