Apollo Global Management Inc. $APO Shares Sold by PB Investment Partners L.P.

Key Points

• PB Investment Partners L.P. reduced its stake in Apollo Global Management Inc. by 2.5%, now holding 163,726 shares, which is approximately 15.8% of their portfolio.
• Apollo Global Management reported earnings of $1.92 per share, exceeding analyst estimates of $1.84, with a revenue of $6.55 billion.
• Analysts' ratings on Apollo Global Management vary, with one Strong Buy, eleven Buy, and four Hold ratings, leading to a consensus rating of "Moderate Buy" and a price target of $161.14.

PB Investment Partners L.P. trimmed its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 163,726 shares of the financial services provider's stock after selling 4,179 shares during the quarter. Apollo Global Management comprises about 15.8% of PB Investment Partners L.P.'s holdings, making the stock its 3rd biggest position. PB Investment Partners L.P.'s holdings in Apollo Global Management were worth $23,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. GW&K Investment Management LLC grew its holdings in Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares during the period. Rosenberg Matthew Hamilton grew its holdings in Apollo Global Management by 6,900.0% in the second quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider's stock worth $30,000 after purchasing an additional 207 shares during the period. ORG Partners LLC grew its holdings in Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after purchasing an additional 171 shares during the period. Bay Harbor Wealth Management LLC grew its holdings in Apollo Global Management by 5,200.0% in the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider's stock worth $38,000 after purchasing an additional 260 shares during the period. Finally, Rise Advisors LLC acquired a new stake in Apollo Global Management in the first quarter worth $42,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on APO shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Apollo Global Management in a research note on Wednesday, October 8th. Piper Sandler reaffirmed an "overweight" rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. Evercore ISI raised 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. Wall Street Zen lowered shares of Apollo Global Management from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Finally, Barclays dropped their price objective on shares of Apollo Global Management from $168.00 to $147.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.14.

Apollo Global Management Stock Up 0.1%

APO opened at $127.76 on Thursday. 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 company's 50-day moving average is $135.09 and its 200 day moving average is $135.96. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The firm has a market capitalization of $73.08 billion, a P/E ratio of 23.88, a PEG ratio of 1.46 and a beta of 1.68.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share 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 analyst estimates of $1.01 billion. During the same period last year, the firm earned $1.64 earnings per share. 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 company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is presently 38.13%.

Insider Activity at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of the firm's 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 transaction, the insider directly owned 83,192 shares of the company's stock, valued at $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 directly owned 332,399 shares in the company, valued at $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 935,000 shares of company stock valued at $125,543,790 over the last ninety days. Corporate insiders own 8.20% of the company's stock.

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.

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