Tocqueville Asset Management L.P. Sells 23,902 Shares of Apollo Global Management Inc. $APO

Key Points

• Tocqueville Asset Management L.P. reduced its stake in Apollo Global Management by 4.9%, holding approximately 466,846 shares, which makes Apollo around 1.0% of their investment portfolio.
• Several hedge funds, including GW&K Investment Management and ORG Partners, increased their positions in Apollo Global Management during the 1st quarter, indicating strong institutional interest.
• Equities analysts maintain a consensus rating of "Moderate Buy" for Apollo Global Management, with a price target range between $160.00 and $173.00 from various firms.

Tocqueville Asset Management L.P. cut its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 466,846 shares of the financial services provider's stock after selling 23,902 shares during the period. Apollo Global Management comprises approximately 1.0% of Tocqueville Asset Management L.P.'s investment portfolio, making the stock its 17th biggest position. Tocqueville Asset Management L.P. owned approximately 0.08% of Apollo Global Management worth $63,930,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new position in shares of Apollo Global Management during the fourth quarter worth $25,000. GW&K Investment Management LLC increased 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 valued at $26,000 after purchasing an additional 87 shares during the period. ORG Partners LLC increased 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 valued at $32,000 after purchasing an additional 171 shares during the period. Farmers & Merchants Investments Inc. acquired a new stake in Apollo Global Management in the first quarter valued at $39,000. Finally, Meeder Asset Management Inc. increased 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 valued at $43,000 after purchasing an additional 172 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apollo Global Management

In related news, 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 value of $2,249,205.00. Following the transaction, the chief financial officer 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the transaction, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on APO shares. Wall Street Zen upgraded Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Citigroup increased their price objective on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. UBS Group decreased their price objective on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Cowen restated a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Finally, Evercore ISI increased their price objective on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $163.28.

Apollo Global Management Stock Down 1.0%

Shares of APO stock traded down $1.37 on Thursday, reaching $133.97. 911,527 shares of the company were exchanged, compared to its average volume of 3,592,886. The company has a market cap of $76.63 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 1.48 and a beta of 1.62. The company has a 50-day moving average of $142.95 and a 200-day moving average of $139.93. 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 one year low of $102.58 and a one year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 prior 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 Announces Dividend

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

About Apollo Global Management

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.