Apollo Global Management Inc. $APO Stock Position Trimmed by Ameliora Wealth Management Ltd.

Key Points

• Ameliora Wealth Management Ltd. reduced its stake in Apollo Global Management by 25.5%, owning 17,444 shares valued at approximately $2.475 million after selling nearly 6,000 shares.
• Analysts have raised price targets for Apollo Global Management, with Barclays increasing their target from $156 to $168 and Wells Fargo from $160 to $173, reflecting an overall consensus rating of "Moderate Buy".
• Apollo Global Management recently announced a quarterly dividend of $0.51 per share, representing an annualized yield of 1.6% and a payout ratio of 38.13%.

Ameliora Wealth Management Ltd. cut its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 25.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,444 shares of the financial services provider's stock after selling 5,966 shares during the quarter. Apollo Global Management comprises 0.9% of Ameliora Wealth Management Ltd.'s holdings, making the stock its 29th biggest position. Ameliora Wealth Management Ltd.'s holdings in Apollo Global Management were worth $2,475,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Valeo Financial Advisors LLC lifted its position in Apollo Global Management by 36.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,558 shares of the financial services provider's stock valued at $363,000 after purchasing an additional 684 shares during the last quarter. DAVENPORT & Co LLC lifted its position in Apollo Global Management by 9.5% in the 2nd quarter. DAVENPORT & Co LLC now owns 40,191 shares of the financial services provider's stock valued at $5,702,000 after purchasing an additional 3,496 shares during the last quarter. Iron Horse Wealth Management LLC lifted its position in Apollo Global Management by 27.6% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 2,489 shares of the financial services provider's stock valued at $353,000 after purchasing an additional 539 shares during the last quarter. Bay Harbor Wealth Management LLC lifted its position in Apollo Global Management by 5,200.0% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 260 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position in Apollo Global Management by 6.3% in the 2nd quarter. QRG Capital Management Inc. now owns 33,086 shares of the financial services provider's stock valued at $4,694,000 after purchasing an additional 1,955 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on APO shares. Barclays lifted 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 report on Thursday, July 10th. Weiss Ratings reissued a "hold (c)" rating on shares of Apollo Global Management in a research note on Saturday, September 27th. Wells Fargo & Company raised their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Citigroup raised their target price 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. Finally, BMO Capital Markets started coverage on shares of Apollo Global Management in a research note on Friday. They set a "market perform" rating and a $132.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.07.

Apollo Global Management Stock Performance

Shares of APO opened at $126.54 on Tuesday. The firm's 50 day moving average is $137.90 and its 200-day moving average is $136.81. The stock has a market capitalization of $72.38 billion, a P/E ratio of 23.65, a P/E/G ratio of 1.35 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. 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 data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion for the quarter, compared to analysts' expectations 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 company posted $1.64 EPS. Equities research analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently disclosed 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 of this dividend was Monday, August 18th. This represents a $2.04 annualized dividend and a dividend yield of 1.6%. Apollo Global Management's payout ratio is currently 38.13%.

Insider Transactions at Apollo Global Management

In other news, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction that occurred 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 of the company's stock, valued at $12,148,527.76. The trade was a 5.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Martin Kelly sold 15,500 shares of Apollo Global Management stock in a transaction that occurred 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 in the company, valued at $48,234,418.89. This represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 935,000 shares of company stock valued at $125,543,790 in the last quarter. Insiders own 8.50% 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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