Apollo Global Management Inc. $APO Shares Sold by Zurich Insurance Group Ltd FI

Key Points

• Zurich Insurance Group Ltd FI reduced its stake in Apollo Global Management by 4.0%, selling 21,500 shares, and now owns approximately 0.09% of the company valued at $70.97 million.
• Insider Leon D. Black sold 915,000 shares of Apollo, decreasing his ownership by 16.82%, while CFO Martin Kelly also sold 15,500 shares.
• Apollo Global Management's stock was up 2.2% recently, with expected earnings of $1.92 per share for the current year, surpassing prior estimates.

Zurich Insurance Group Ltd FI cut its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 518,226 shares of the financial services provider's stock after selling 21,500 shares during the period. Zurich Insurance Group Ltd FI owned approximately 0.09% of Apollo Global Management worth $70,966,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fourth Dimension Wealth LLC purchased a new position in shares of Apollo Global Management in the fourth quarter valued at approximately $25,000. GW&K Investment Management LLC boosted its stake in shares of 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 valued at $26,000 after purchasing an additional 87 shares during the period. ORG Partners LLC boosted its stake in shares of Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 171 shares during the period. Farmers & Merchants Investments Inc. purchased a new position in shares of Apollo Global Management in the first quarter valued at approximately $39,000. Finally, Rise Advisors LLC purchased a new position in shares of Apollo Global Management in the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on APO. Barclays raised their price objective on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Citigroup raised their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. 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. Finally, Evercore ISI lifted their price target on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Apollo Global Management presently has an average rating of "Moderate Buy" and a consensus price target of $164.56.

Apollo Global Management Stock Up 1.2%

Apollo Global Management stock traded up $1.70 during trading on Friday, reaching $138.10. The stock had a trading volume of 2,306,536 shares, compared to its average volume of 3,088,531. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $189.49. The business has a 50 day moving average price of $141.88 and a 200 day moving average price of $136.92. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The stock has a market cap of $79.00 billion, a PE ratio of 25.81, a P/E/G ratio of 1.49 and a beta of 1.69.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $1.64 EPS. On average, analysts predict that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, August 18th. Apollo Global Management's payout ratio is currently 38.13%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their position. The sale 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 business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the sale, the insider owned 4,526,000 shares of the company's stock, valued at $606,619,780. This represents a 16.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 935,000 shares of company stock worth $125,543,790. 8.20% of the stock is currently owned by insiders.

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.