Apollo Global Management Inc. $APO Shares Sold by FORA Capital LLC

Key Points

• FORA Capital LLC significantly reduced its stake in Apollo Global Management, cutting its holdings by 72% to 25,376 shares, valued at approximately $3.48 million.
• Apollo Global Management reported a quarterly earnings per share of $1.92, surpassing the expected $1.84, with revenues reaching $6.55 billion.
• The company declared a quarterly dividend of $0.51 per share, representing a 1.5% yield and indicating a payout ratio of 38.13%.

FORA Capital LLC lessened its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 72.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,376 shares of the financial services provider's stock after selling 65,251 shares during the period. FORA Capital LLC's holdings in Apollo Global Management were worth $3,475,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in APO. Fourth Dimension Wealth LLC acquired a new position in Apollo Global Management in the 4th quarter valued at about $25,000. GW&K Investment Management LLC increased its position 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 acquiring an additional 87 shares during the period. ORG Partners LLC increased its position 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 acquiring an additional 171 shares during the period. Farmers & Merchants Investments Inc. acquired a new position in Apollo Global Management in the 1st quarter valued at about $39,000. Finally, Meeder Asset Management Inc. increased its position in 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 period. Institutional investors and hedge funds own 77.06% of the company's stock.

Insiders Place Their Bets

In other news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This represents a 5.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Martin Kelly sold 15,500 shares of the company's stock in a transaction 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 sale, the chief financial officer 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. Corporate insiders own 8.20% of the company's stock.

Analyst Ratings Changes

APO has been the topic of several recent analyst reports. Evercore ISI boosted their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Citigroup boosted their target price on 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 upgraded Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Wells Fargo & Company boosted 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. Finally, Barclays boosted their target price on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Apollo Global Management presently has a consensus rating of "Moderate Buy" and an average price target of $164.56.

Apollo Global Management Trading Up 0.1%

APO traded up $0.13 during trading on Friday, hitting $136.52. The company's stock had a trading volume of 4,975,863 shares, compared to its average volume of 3,426,771. The firm's 50 day moving average price is $143.11 and its 200-day moving average price is $138.42. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market cap of $78.09 billion, a PE ratio of 25.52, a PEG ratio of 1.47 and a beta of 1.62. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49.

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 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate 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. On average, analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The firm also recently declared 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 payout ratio is 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.