Northern Right Capital Management L.P. Has $23.35 Million Stock Position in Apollo Global Management Inc. $APO

Key Points

• Northern Right Capital Management L.P. decreased its holdings in Apollo Global Management by 21.5%, now owning approximately $23.35 million worth of the stock.
• Multiple institutional investors have recently increased their positions in Apollo Global Management, contributing to the stock's popularity and stability among institutional shareholders, who own over 77% of it.
• Wall Street analysts have a generally positive outlook on Apollo Global Management, with several raising their price targets and definitive ratings, suggesting a consensus of "Moderate Buy" with an average price target around $164.56.

Northern Right Capital Management L.P. lowered its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 21.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 170,491 shares of the financial services provider's stock after selling 46,600 shares during the period. Apollo Global Management accounts for about 9.5% of Northern Right Capital Management L.P.'s holdings, making the stock its 3rd largest holding. Northern Right Capital Management L.P.'s holdings in Apollo Global Management were worth $23,347,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its position in Apollo Global Management by 33.1% in the 4th quarter. Integrated Wealth Concepts LLC now owns 3,369 shares of the financial services provider's stock worth $556,000 after purchasing an additional 837 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Apollo Global Management during the 4th quarter valued at $903,000. AQR Capital Management LLC boosted its holdings in Apollo Global Management by 20.7% in the 4th quarter. AQR Capital Management LLC now owns 42,708 shares of the financial services provider's stock worth $7,054,000 after buying an additional 7,318 shares during the period. Absolute Gestao de Investimentos Ltda. bought a new position in Apollo Global Management in the 4th quarter worth $578,000. Finally, AXA S.A. boosted its holdings in Apollo Global Management by 252.1% in the 4th quarter. AXA S.A. now owns 38,981 shares of the financial services provider's stock worth $6,438,000 after buying an additional 27,910 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 15,500 shares of Apollo Global Management 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 sale, the chief financial officer owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $657,135.00. Following the transaction, 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 position. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

Apollo Global Management Stock Performance

Shares of NYSE APO traded down $3.20 during midday trading on Wednesday, reaching $132.64. The company had a trading volume of 4,544,644 shares, compared to its average volume of 3,234,820. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The business's 50-day simple moving average is $142.98 and its 200 day simple moving average is $138.05. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49. The stock has a market cap of $75.87 billion, a P/E 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 issued 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. The firm had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same quarter last year, the company posted $1.64 earnings per share. On average, analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on APO shares. 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 research report on Thursday, July 10th. Evercore ISI increased their price objective on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Citigroup raised their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Wells Fargo & Company upped their target price on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. One 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. According to data from MarketBeat, Apollo Global Management presently has a consensus rating of "Moderate Buy" and an average target price 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.