Apollo Global Management Inc. $APO Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp reduced its stake in Apollo Global Management by 3.8%, selling 8,336 shares during the 2nd quarter, now holding 210,066 shares valued at approximately $29.8 million.
• Insider trading activity included Apollo's CFO Martin Kelly selling 15,500 shares at $145.11, reducing his holdings by 4.46%, while another insider sold 4,500 shares at $146.03, marking a 5.13% decrease in their position.
• Apollo Global Management saw varying analyst ratings, with Wells Fargo and Barclays increasing their target prices to $173.00 and $168.00 respectively, contributing to a consensus rating of "Moderate Buy" with an average price target of $167.93.

Truist Financial Corp decreased its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 210,066 shares of the financial services provider's stock after selling 8,336 shares during the period. Truist Financial Corp's holdings in Apollo Global Management were worth $29,802,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GW&K Investment Management LLC raised its stake in Apollo Global Management by 84.5% during the first 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 acquiring an additional 171 shares in the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in shares of Apollo Global Management during the 1st quarter valued at approximately $39,000. Rise Advisors LLC bought a new position in Apollo Global Management during the first quarter worth $42,000. Finally, Meeder Asset Management Inc. boosted its holdings in Apollo Global Management by 118.6% in the first quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock worth $43,000 after purchasing an additional 172 shares during the period. 77.06% of the stock is owned by institutional investors.

Insider Activity

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the transaction, the chief financial officer directly owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the transaction, 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. Insiders sold 935,000 shares of company stock worth $125,543,790 over the last three months. Corporate insiders own 8.20% of the company's stock.

Wall Street Analysts Forecast Growth

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

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $127.09 on Friday. The firm's 50 day moving average is $138.85 and its two-hundred day moving average is $137.11. The firm has a market capitalization of $72.70 billion, a P/E ratio of 23.76, a PEG ratio of 1.40 and a beta of 1.68. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.84 by $0.08. The firm had revenue of $6,550,000 billion for the quarter, compared to analysts' expectations 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 last year, the firm earned $1.64 EPS. Analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a $0.51 dividend. 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 is currently 38.13%.

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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