Brandywine Global Investment Management LLC Sells 13,470 Shares of Apollo Global Management Inc. $APO

Key Points

• Brandywine Global Investment Management LLC has reduced its holdings in Apollo Global Management Inc. by 4.5%, now owning a total of 283,144 shares valued at approximately $38.77 million.
• Several major investors, including Vanguard and Goldman Sachs, have increased their positions in Apollo Global Management, with Vanguard owning over 46 million shares worth approximately $6.3 billion.
• Apollo Global Management recently reported earnings of $1.92 per share, surpassing analysts' expectations, and announced a quarterly dividend of $0.51 per share to be paid on August 29th.

Brandywine Global Investment Management LLC reduced its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 283,144 shares of the financial services provider's stock after selling 13,470 shares during the period. Brandywine Global Investment Management LLC's holdings in Apollo Global Management were worth $38,774,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new stake in Apollo Global Management during the fourth quarter valued at approximately $25,000. GW&K Investment Management LLC increased its stake in Apollo Global Management by 84.5% in the 1st 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 during the period. ORG Partners LLC increased its stake in Apollo Global Management by 285.0% in the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after buying an additional 171 shares during the period. Farmers & Merchants Investments Inc. acquired a new position in shares of Apollo Global Management during the 1st quarter worth $39,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Apollo Global Management by 118.6% during the 1st 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 last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on APO shares. Piper Sandler decreased their price objective on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a report on Monday, May 5th. UBS Group reduced their price target on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Barclays increased their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Cowen reiterated a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Finally, Wall Street Zen upgraded shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Apollo Global Management has a consensus rating of "Moderate Buy" and an average price target of $161.26.

Insider Buying and Selling

In related news, insider Whitney Chatterjee sold 4,500 shares of the business's stock in a transaction that occurred on 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 owned 83,192 shares in the company, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Martin Kelly sold 15,500 shares of the company'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 transaction, the chief financial officer owned 332,399 shares of the company's stock, valued at $48,234,418.89. This trade represents a 4.46% decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Trading Up 0.1%

Shares of NYSE:APO traded up $0.09 during trading on Monday, hitting $139.48. 2,244,435 shares of the company's stock were exchanged, compared to its average volume of 3,152,215. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49. The firm has a 50-day moving average price of $142.98 and a two-hundred day moving average price of $139.98. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm has a market cap of $79.79 billion, a P/E ratio of 26.07, a PEG ratio of 1.45 and a beta of 1.62.

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

Apollo Global Management Dividend Announcement

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

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.