Guardian Point Capital LP Sells 225,000 Shares of Apollo Global Management Inc. $APO

Key Points

• Guardian Point Capital LP reduced its stake in Apollo Global Management by 39.1%, selling 225,000 shares and now owns 350,000 shares, representing about 28.9% of its portfolio.
• Several other hedge funds have increased their holdings in Apollo Global Management, with principal financial group boosting its stake by 1.4% and Clearview Wealth Advisors increasing it by 420.7%.
• Apollo Global Management declared a quarterly dividend of $0.51, resulting in an annualized dividend yield of 1.5% and a payout ratio of 38.13%.

Guardian Point Capital LP decreased its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 39.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 350,000 shares of the financial services provider's stock after selling 225,000 shares during the quarter. Apollo Global Management accounts for about 28.9% of Guardian Point Capital LP's portfolio, making the stock its largest holding. Guardian Point Capital LP owned approximately 0.06% of Apollo Global Management worth $47,929,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fourth Dimension Wealth LLC acquired a new position in shares of Apollo Global Management in the 4th quarter valued at approximately $25,000. GW&K Investment Management LLC raised its position in shares of 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 raised its position in shares of 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 buying an additional 171 shares in the last quarter. Farmers & Merchants Investments Inc. acquired a new position in shares of Apollo Global Management in the 1st quarter valued at approximately $39,000. Finally, Meeder Asset Management Inc. raised its position in shares of Apollo Global Management by 118.6% in the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after buying an additional 172 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Trading Down 2.4%

Shares of NYSE:APO traded down $3.20 during trading on Wednesday, reaching $132.64. The stock had a trading volume of 4,540,235 shares, compared to its average volume of 3,594,219. The firm's fifty day moving average is $143.08 and its 200 day moving average is $138.08. 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 Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The stock has a market cap of $75.87 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 1.47 and a beta of 1.69.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The company had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm posted $1.64 EPS. As a group, equities analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio is currently 38.13%.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction on 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 transaction, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. The trade was a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 8.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on APO. Wells Fargo & Company boosted 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 report on Friday, July 11th. Evercore ISI lifted their price target on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Citigroup lifted their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Barclays lifted 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 research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Apollo Global Management presently has an average rating of "Moderate Buy" and a consensus price target 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.