Cinctive Capital Management LP Reduces Position in Apollo Global Management Inc. $APO

Key Points

• Cinctive Capital Management LP decreased its holdings in Apollo Global Management by 55.5%, selling 40,026 shares to own 32,077 shares valued at approximately $4.39 million.
• Several institutional investors, including Principal Financial Group Inc. and Clearview Wealth Advisors LLC, have increased their stakes in Apollo Global Management, reflecting a robust institutional interest with 77.06% of shares currently held by such investors.
• Analysts have set a new average price target of $164.56 for Apollo Global Management, with ratings ranging from "Strong Buy" to "Hold," indicating positive sentiment toward the company's stock.

Cinctive Capital Management LP decreased its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 55.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,077 shares of the financial services provider's stock after selling 40,026 shares during the quarter. Cinctive Capital Management LP's holdings in Apollo Global Management were worth $4,393,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bain Capital Public Equity Management II LLC purchased a new stake in shares of Apollo Global Management in the first quarter valued at approximately $21,345,000. Bain Capital Public Equity LP purchased a new position in shares of Apollo Global Management in the 1st quarter worth $3,834,000. Banque Transatlantique SA grew its stake in shares of Apollo Global Management by 59.1% during the first quarter. Banque Transatlantique SA now owns 732 shares of the financial services provider's stock valued at $93,000 after acquiring an additional 272 shares in the last quarter. Belmont Capital LLC boosted its holdings in Apollo Global Management by 4.0% in the first quarter. Belmont Capital LLC now owns 92,607 shares of the financial services provider's stock worth $12,682,000 after purchasing an additional 3,545 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Apollo Global Management by 33.0% during the first quarter. Alliancebernstein L.P. now owns 2,473,614 shares of the financial services provider's stock worth $338,737,000 after purchasing an additional 613,124 shares during the period. Institutional investors own 77.06% of the company's stock.

Insider Activity at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the sale, the insider directly owned 83,192 shares of the company's stock, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Leon D. Black sold 915,000 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the completion of the transaction, the insider directly owned 4,526,000 shares of the company's stock, valued at approximately $606,619,780. The trade was a 16.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 935,000 shares of company stock valued at $125,543,790 over the last 90 days. Insiders own 8.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wall Street Zen upgraded Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Barclays lifted their price target 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. Wells Fargo & Company boosted their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Citigroup boosted their price target on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Finally, Evercore ISI lifted their price objective on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $164.56.

Apollo Global Management Stock Up 0.7%

APO traded up $0.90 on Tuesday, hitting $135.34. 2,153,753 shares of the company were exchanged, compared to its average volume of 3,591,331. The stock's fifty day moving average is $142.50 and its 200-day moving average is $137.24. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market cap of $77.42 billion, a PE ratio of 25.27, a PEG ratio of 1.42 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The firm had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the company earned $1.64 earnings per share. Equities research analysts predict that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) 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.