First Manhattan CO. LLC. Has $3.44 Million Holdings in Apollo Global Management Inc. $APO

Key Points

• First Manhattan CO. LLC. increased its stake in Apollo Global Management by 20.1%, acquiring an additional 4,204 shares during the first quarter, bringing its total holdings to 25,093 shares valued at approximately $3.4 million.
• Insider selling activity was reported, with significant transactions from CFO Martin Kelly and insider Whitney Chatterjee, who sold 15,500 and 4,500 shares respectively, indicating a decrease in their ownership positions.
• Analysts have a positive outlook on Apollo Global Management, with upgrades from several firms leading to an average target price of $164.56 and a consensus rating of "Moderate Buy" based on the latest reports.

First Manhattan CO. LLC. raised its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 20.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,093 shares of the financial services provider's stock after buying an additional 4,204 shares during the period. First Manhattan CO. LLC.'s holdings in Apollo Global Management were worth $3,436,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Fourth Dimension Wealth LLC purchased a new stake in Apollo Global Management during the fourth quarter valued at about $25,000. GW&K Investment Management LLC boosted its position in shares of 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 worth $26,000 after buying an additional 87 shares during the period. ORG Partners LLC boosted its position in shares of Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after buying an additional 171 shares during the period. Farmers & Merchants Investments Inc. acquired a new stake in shares of Apollo Global Management in the first quarter worth $39,000. Finally, Meeder Asset Management Inc. boosted its position in shares of 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 worth $43,000 after buying an additional 172 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Whitney Chatterjee sold 4,500 shares of the 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 completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the transaction, the chief financial officer directly owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.20% of the stock is owned by insiders.

Apollo Global Management Stock Performance

APO stock traded down $3.25 during midday trading on Friday, hitting $131.51. 4,520,545 shares of the company traded hands, compared to its average volume of 3,101,840. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The business has a 50 day simple moving average of $142.65 and a 200-day simple moving average of $137.49. The stock has a market capitalization of $75.23 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 1.42 and a beta of 1.69.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results 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. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The company had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company posted $1.64 earnings per share. As a group, equities research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a dividend of $0.51 per share. The ex-dividend date was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a yield of 1.6%. Apollo Global Management's payout ratio is currently 38.13%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on APO. Citigroup increased their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Wells Fargo & Company increased their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Evercore ISI increased 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. Finally, Barclays increased their price objective on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.56.

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.