Clark Capital Management Group Inc. Lowers Stake in Apollo Global Management Inc. $APO

Key Points

• Clark Capital Management Group Inc. has decreased its stake in Apollo Global Management by 16.4%, holding 21,901 shares worth approximately $2.99 million as of its latest SEC filing.
• Equities research analysts have upgraded their ratings and target prices for Apollo Global Management, with Citigroup raising its target from $160.00 to $170.00 and Wells Fargo targeting $173.00.
• Apollo Global Management recently declared a quarterly dividend of $0.51, resulting in an annualized dividend yield of 1.6% and a payout ratio of 38.13%.

Clark Capital Management Group Inc. reduced its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,901 shares of the financial services provider's stock after selling 4,311 shares during the period. Clark Capital Management Group Inc.'s holdings in Apollo Global Management were worth $2,999,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new position in shares of Apollo Global Management during the fourth quarter valued at about $25,000. GW&K Investment Management LLC grew 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 in the last quarter. ORG Partners LLC grew its holdings in Apollo Global Management by 285.0% during 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 in the last quarter. Farmers & Merchants Investments Inc. purchased a new position in Apollo Global Management during the first quarter worth about $39,000. Finally, Meeder Asset Management Inc. boosted its position 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 valued at $43,000 after acquiring an additional 172 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APO has been the topic of several research analyst reports. Barclays upped their price objective on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Citigroup lifted their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Wells Fargo & Company raised their price target on Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Finally, Evercore ISI increased their price target on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $164.56.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of Apollo Global Management 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was 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 in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 935,000 shares of company stock valued at $125,543,790. Company insiders own 8.20% of the company's stock.

Apollo Global Management Trading Up 2.1%

NYSE:APO traded up $2.74 during midday trading on Thursday, reaching $136.38. 2,758,296 shares of the stock traded hands, compared to its average volume of 3,121,288. The stock has a market capitalization of $78.01 billion, a P/E ratio of 25.49, a PEG ratio of 1.44 and a beta of 1.69. 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 fifty day moving average of $142.01 and a 200 day moving average of $137.12. 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 issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.84 by $0.08. The firm 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 period in the prior year, the firm posted $1.64 earnings per share. On average, research 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. Shareholders of record on Monday, August 18th were issued a $0.51 dividend. The ex-dividend date was Monday, August 18th. This represents a $2.04 annualized dividend and a yield of 1.5%. 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.