HighTower Advisors LLC Has $14.73 Million Stock Holdings in Apollo Global Management Inc. $APO

Key Points

• HighTower Advisors LLC has reduced its stake in Apollo Global Management Inc. by 74.1%, holding 107,588 shares valued at approximately $14.7 million after selling 308,042 shares in the first quarter.
• In contrast, several institutional investors have increased their stakes significantly, with Guggenheim Capital LLC growing its holdings by 699.7% during the fourth quarter.
• Apollo Global Management recently announced a quarterly dividend of $0.51 per share, representing an annualized yield of 1.5% with a payout ratio of 38.13%.

HighTower Advisors LLC cut its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 74.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,588 shares of the financial services provider's stock after selling 308,042 shares during the period. HighTower Advisors LLC's holdings in Apollo Global Management were worth $14,733,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new position in shares of Apollo Global Management in the 4th quarter valued at $25,000. GW&K Investment Management LLC increased its stake 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 purchasing an additional 87 shares during the last quarter. ORG Partners LLC increased its stake 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 purchasing an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new position in shares of Apollo Global Management in the 1st quarter valued at $39,000. Finally, Meeder Asset Management Inc. increased its stake 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 purchasing an additional 172 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler decreased their price target on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. UBS Group decreased their price target on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. 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 price objective 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 price objective 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, sixteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Apollo Global Management presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.28.

Apollo Global Management Trading Up 2.5%

Shares of NYSE APO traded up $3.3960 during trading on Friday, reaching $137.4060. The company had a trading volume of 1,125,794 shares, compared to its average volume of 3,587,464. The company's fifty day moving average price is $142.87 and its 200-day moving average price is $139.70. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The stock has a market cap of $78.60 billion, a P/E ratio of 25.66, a PEG ratio of 1.46 and a beta of 1.62. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

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

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given 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 is Monday, August 18th. Apollo Global Management's payout ratio is 38.13%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the sale, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were 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 in the company, valued at $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 own 8.20% of the company's stock.

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.