Lansforsakringar Fondforvaltning AB publ Has $17.65 Million Stock Position in Apollo Global Management Inc. $APO

Key Points

• Lansforsakringar Fondforvaltning AB publ has reduced its holdings in Apollo Global Management by 2.8%, selling 3,780 shares and maintaining a total of 128,886 shares valued at approximately $17.65 million.
• Apollo Global Management reported earnings per share of $1.92, exceeding analysts' expectations of $1.84, along with a revenue of $6.55 billion for the quarter.
• The firm has announced a quarterly dividend of $0.51 per share, which will yield an annualized dividend of $2.04 and a dividend payout ratio of 38.13%.

Lansforsakringar Fondforvaltning AB publ lowered its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 2.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 128,886 shares of the financial services provider's stock after selling 3,780 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Apollo Global Management were worth $17,650,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of APO. Fourth Dimension Wealth LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter worth about $25,000. GW&K Investment Management LLC increased its holdings in shares of Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares during the last quarter. ORG Partners LLC raised its holdings 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 worth $32,000 after purchasing an additional 171 shares during the period. Farmers & Merchants Investments Inc. purchased a new position in Apollo Global Management in the first quarter valued at approximately $39,000. Finally, Meeder Asset Management Inc. boosted 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. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on APO shares. Barclays lifted 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. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Wells Fargo & Company increased 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. Evercore ISI lifted their price target on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Finally, Citigroup upped their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $164.56.

Insiders Place Their Bets

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction that occurred 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 owned 83,192 shares of the company's stock, valued at $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of Apollo Global Management stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at approximately $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. Corporate insiders own 8.50% of the company's stock.

Apollo Global Management Trading Down 2.6%

APO traded down $3.56 during trading on Wednesday, reaching $132.28. The company had a trading volume of 1,409,594 shares, compared to its average volume of 3,580,906. 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 12-month low of $102.58 and a 12-month high of $189.49. The company has a market cap of $75.67 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.47 and a beta of 1.69. The firm's 50-day simple moving average is $143.08 and its 200 day simple moving average is $138.08.

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, topping 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 firm had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $1.64 EPS. Equities research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. Apollo Global Management's dividend payout ratio (DPR) is 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.