Greenwood Capital Associates LLC Has $4.13 Million Stock Position in Apollo Global Management Inc. $APO

Key Points

• Greenwood Capital Associates LLC increased its stake in Apollo Global Management Inc. by 11.4%, owning 29,078 shares valued at approximately $4.13 million as of the latest SEC filing.
• Insider transactions saw Leon D. Black sell 915,000 shares of Apollo, decreasing his ownership by 16.82%, while other insiders also sold a combined total of 935,000 shares over the past three months.
• Apollo Global Management recently declared a quarterly dividend of $0.51 per share, representing an annualized yield of 1.6% and a dividend payout ratio of 38.13%.

Greenwood Capital Associates LLC lifted its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 11.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,078 shares of the financial services provider's stock after purchasing an additional 2,984 shares during the quarter. Greenwood Capital Associates LLC's holdings in Apollo Global Management were worth $4,125,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of APO. Boston Partners acquired a new position in shares of Apollo Global Management during the 1st quarter worth $370,543,000. Nuveen LLC acquired a new position in Apollo Global Management in the 1st quarter valued at $342,335,000. Vanguard Group Inc. grew its stake in Apollo Global Management by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock valued at $6,303,186,000 after buying an additional 893,428 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Apollo Global Management by 24.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock valued at $490,482,000 after buying an additional 706,181 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in Apollo Global Management by 33.0% in the 1st quarter. Alliancebernstein L.P. now owns 2,473,614 shares of the financial services provider's stock valued at $338,737,000 after buying an additional 613,124 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on APO shares. Wall Street Zen upgraded shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Evercore ISI raised their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Citigroup raised their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Wells Fargo & Company raised their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, Barclays increased their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $167.93.

Insider Transactions at Apollo Global Management

In other news, insider Leon D. Black sold 915,000 shares of the firm'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. This trade represents a 16.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the transaction, the insider directly owned 83,192 shares of the company's stock, valued at $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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 Price Performance

Shares of Apollo Global Management stock opened at $127.09 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The firm has a fifty day moving average price of $138.85 and a two-hundred day moving average price of $137.11. The company has a market cap of $72.70 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 1.40 and a beta of 1.68.

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 analysts' consensus estimates 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 earned $1.64 EPS. Analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is presently 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.

Want to see what other hedge funds are holding APO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Global Management Inc. (NYSE:APO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.