Apollo Global Management Inc. $APO Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC reduced its stake in Apollo Global Management by 1.9%, holding 188,193 shares worth approximately $26.7 million after selling 3,652 shares in the second quarter.
• Apollo Global Management recently reported an EPS of $1.92 for the quarter, surpassing estimates, and announced a quarterly dividend of $0.51, yielding about 1.6% annually.
• Insider trades have seen significant sales, with CFO Martin Kelly selling 15,500 shares and insider Leon D. Black selling 915,000 shares, reflecting a trend of decreasing positions among company insiders.

Janney Montgomery Scott LLC trimmed its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 188,193 shares of the financial services provider's stock after selling 3,652 shares during the quarter. Janney Montgomery Scott LLC's holdings in Apollo Global Management were worth $26,699,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Apollo Global Management by 1.4% in the first quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock worth $75,347,000 after acquiring an additional 7,441 shares during the last quarter. Clearview Wealth Advisors LLC raised its holdings in shares of Apollo Global Management by 420.7% in the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock worth $2,952,000 after acquiring an additional 17,418 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of Apollo Global Management in the first quarter worth $871,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Apollo Global Management in the first quarter worth $492,000. Finally, True North Advisors LLC acquired a new position in shares of Apollo Global Management in the first quarter worth $2,097,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $130.05 on Thursday. The firm has a market capitalization of $74.39 billion, a PE ratio of 24.31, a P/E/G ratio of 1.43 and a beta of 1.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The business has a 50-day moving average of $139.35 and a two-hundred day moving average of $137.19. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping 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 firm posted $1.64 earnings per share. As a group, research analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.6%. Apollo Global Management's dividend payout ratio (DPR) is 38.13%.

Insider Activity

In other news, CFO Martin Kelly sold 15,500 shares of the stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leon D. Black sold 915,000 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the sale, the insider owned 4,526,000 shares of the company's stock, valued at approximately $606,619,780. This trade represents a 16.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 935,000 shares of company stock worth $125,543,790. 8.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on APO. Wall Street Zen upgraded Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Citigroup increased their target price on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Barclays increased their target price 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. Evercore ISI increased their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company increased their target price on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $167.93.

Apollo Global Management Company 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.

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