Hsbc Holdings PLC Reduces Stake in Apollo Global Management Inc. $APO

Key Points

• Hsbc Holdings PLC sold 12,041 shares of Apollo Global Management, reducing its stake by 2.0% to a total of 605,211 shares, valued at approximately $82.8 million.
• Apollo Global Management reported a quarterly earnings of $1.92 per share, exceeding analysts' expectations, with revenue significantly higher than consensus estimates.
• The company declared a quarterly dividend of $0.51 per share, representing an annualized payout of $2.04 and a yield of 1.5%, set to be paid on August 29th.

Hsbc Holdings PLC lowered its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 605,211 shares of the financial services provider's stock after selling 12,041 shares during the quarter. Hsbc Holdings PLC owned 0.11% of Apollo Global Management worth $82,797,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quantbot Technologies LP grew its holdings in Apollo Global Management by 233.1% in the first quarter. Quantbot Technologies LP now owns 39,650 shares of the financial services provider's stock worth $5,430,000 after purchasing an additional 27,747 shares during the period. Brooklyn Investment Group boosted its position in shares of Apollo Global Management by 26.9% during the 1st quarter. Brooklyn Investment Group now owns 948 shares of the financial services provider's stock worth $130,000 after purchasing an additional 201 shares in the last quarter. Partners Group Holding AG boosted its position in shares of Apollo Global Management by 7.5% during the 1st quarter. Partners Group Holding AG now owns 601,157 shares of the financial services provider's stock worth $82,322,000 after purchasing an additional 41,757 shares in the last quarter. Menora Mivtachim Holdings LTD. grew its stake in shares of Apollo Global Management by 6.8% in the 1st quarter. Menora Mivtachim Holdings LTD. now owns 1,096,396 shares of the financial services provider's stock valued at $150,140,000 after buying an additional 70,000 shares during the period. Finally, Cresset Asset Management LLC increased its position in Apollo Global Management by 2.8% in the 1st quarter. Cresset Asset Management LLC now owns 12,727 shares of the financial services provider's stock valued at $1,743,000 after buying an additional 348 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Up 0.0%

NYSE APO traded up $0.0650 on Friday, reaching $134.0750. The company had a trading volume of 3,419,831 shares, compared to its average volume of 3,279,031. 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 company's fifty day moving average is $142.91 and its 200 day moving average is $139.32. 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 capitalization of $76.69 billion, a P/E ratio of 25.06, a P/E/G ratio of 1.45 and a beta of 1.62.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $1.64 EPS. Sell-side analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a $0.51 dividend. The ex-dividend date is Monday, August 18th. This represents a $2.04 annualized dividend and a yield of 1.5%. Apollo Global Management's dividend payout ratio (DPR) is 38.13%.

Analysts Set New Price Targets

Several research analysts have issued reports on APO shares. Wall Street Zen upgraded Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. 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 research report on Thursday, July 10th. Evercore ISI upped their price objective on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company raised their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Apollo Global Management has a consensus rating of "Moderate Buy" and an average price target of $163.28.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the business's stock in a transaction 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 transaction, the insider owned 83,192 shares of the company's stock, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Martin Kelly sold 15,500 shares of the company's stock in a transaction on 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 owned 332,399 shares of the company's stock, valued at $48,234,418.89. This trade represents a 4.46% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is owned by company insiders.

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.