Morton Community Bank Sells 2,155 Shares of Apollo Global Management Inc. (NYSE:APO)

Key Points

• Morton Community Bank reduced its holdings in Apollo Global Management by 5.6%, selling 2,155 shares and maintaining 36,170 shares, valued at approximately $4,953,000.
• Insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management at an average price of $146.03, resulting in a value of $657,135 and a 5.13% decrease in her position.
• Apollo Global Management recently announced a quarterly dividend of $0.51, representing a 1.4% yield and a payout ratio of 38.13%.

Morton Community Bank trimmed its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 5.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,170 shares of the financial services provider's stock after selling 2,155 shares during the period. Apollo Global Management comprises approximately 1.3% of Morton Community Bank's holdings, making the stock its 17th largest holding. Morton Community Bank's holdings in Apollo Global Management were worth $4,953,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in Apollo Global Management by 36.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock worth $1,065,615,000 after purchasing an additional 1,739,807 shares during the last quarter. Northern Trust Corp grew its position in shares of Apollo Global Management by 50.0% during the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after buying an additional 1,460,689 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Apollo Global Management by 71.4% during the fourth quarter. Nuveen Asset Management LLC now owns 2,599,936 shares of the financial services provider's stock worth $429,405,000 after acquiring an additional 1,082,825 shares during the period. Kovitz Investment Group Partners LLC raised its stake in Apollo Global Management by 3,257.1% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,067,659 shares of the financial services provider's stock worth $176,335,000 after acquiring an additional 1,035,856 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Apollo Global Management by 2.0% in the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock worth $6,303,186,000 after acquiring an additional 893,428 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on APO shares. Morgan Stanley cut their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company boosted their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Barclays increased their price objective on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Cowen reiterated a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Finally, UBS Group decreased their target price on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $161.26.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction that occurred 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 directly 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.20% of the company's stock.

Apollo Global Management Price Performance

Shares of NYSE APO traded up $0.88 during midday trading on Friday, reaching $141.99. The company's stock had a trading volume of 3,008,676 shares, compared to its average volume of 2,955,388. Apollo Global Management Inc. has a one year low of $102.42 and a one year high of $189.49. The company has a market cap of $81.15 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 1.48 and a beta of 1.62. The company has a 50 day moving average price of $141.82 and a 200 day moving average price of $141.40. The company has a current ratio of 1.27, a quick ratio of 1.36 and a debt-to-equity ratio of 0.13.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly 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 13.23%. 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 business posted $1.64 earnings per share. On average, equities research analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, August 18th. Apollo Global Management's dividend payout ratio is 38.13%.

Apollo Global Management Company 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.