Coastline Trust Co Sells 14,714 Shares of Apollo Global Management Inc. $APO

Key Points

• Coastline Trust Co reduced its holdings in Apollo Global Management by 86.3%, selling 14,714 shares and leaving it with 2,335 shares worth approximately $331,000.
• Apollo Global Management's stock recently received multiple upgrades from analysts, with price targets ranging from $160.00 to $173.00, reflecting increased optimism about its performance.
• In the most recent quarter, Apollo Global Management reported an EPS of $1.92, exceeding analyst expectations, and also declared a quarterly dividend of $0.51 per share.

Coastline Trust Co trimmed its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 86.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,335 shares of the financial services provider's stock after selling 14,714 shares during the period. Coastline Trust Co's holdings in Apollo Global Management were worth $331,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of APO. Wealth Enhancement Advisory Services LLC raised its position in Apollo Global Management by 30.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,477 shares of the financial services provider's stock valued at $1,730,000 after purchasing an additional 2,426 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Apollo Global Management by 33.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,099 shares of the financial services provider's stock valued at $150,000 after buying an additional 278 shares during the period. Versant Capital Management Inc raised its holdings in shares of Apollo Global Management by 37.5% during the first quarter. Versant Capital Management Inc now owns 689 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 188 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Apollo Global Management by 4.8% during the first quarter. AdvisorNet Financial Inc now owns 2,106 shares of the financial services provider's stock valued at $288,000 after acquiring an additional 97 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Apollo Global Management by 10.7% in the first quarter. Parallel Advisors LLC now owns 3,829 shares of the financial services provider's stock worth $524,000 after acquiring an additional 371 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

APO has been the subject of several research reports. Citigroup upped 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. Barclays raised their price objective on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Evercore ISI upped their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company increased their target price on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $166.27.

Insider Transactions at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of the company's 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 transaction, the insider owned 83,192 shares in the company, 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 available at this hyperlink. Also, 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 transaction of $2,249,205.00. Following the sale, the chief financial officer owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 935,000 shares of company stock valued at $125,543,790 in the last quarter. 8.20% of the stock is owned by insiders.

Apollo Global Management Price Performance

Shares of APO opened at $137.65 on Friday. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The firm's 50-day simple moving average is $140.32 and its two-hundred day simple moving average is $137.19. The stock has a market cap of $78.74 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 1.48 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.

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 analysts' consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion for the quarter, compared to analysts' expectations of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same period in the previous year, the firm posted $1.64 EPS. Analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, August 18th. 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.

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