OFI Invest Asset Management Sells 8,078 Shares of Apollo Global Management Inc. $APO

Key Points

• OFI Invest Asset Management reduced its stake in Apollo Global Management by 54.3%, selling 8,078 shares and holding 6,802 shares valued at approximately $965,000 as of its latest SEC filing.
• Apollo Global Management's Chief Financial Officer sold 15,500 shares in August, while major shareholder Leon D. Black sold 915,000 shares, representing significant decreases in their positions.
• The company's stock has experienced a 4.2% decline recently, with a current market capitalization of $67.69 billion and a quarterly dividend declared at $0.51 per share.

OFI Invest Asset Management trimmed its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 54.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,802 shares of the financial services provider's stock after selling 8,078 shares during the period. OFI Invest Asset Management's holdings in Apollo Global Management were worth $965,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of APO. Y.D. More Investments Ltd raised its position in Apollo Global Management by 14.4% in the 1st quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider's stock valued at $85,000 after buying an additional 78 shares during the last quarter. Walled Lake Planning & Wealth Management LLC raised its position in Apollo Global Management by 3.3% in the 1st quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider's stock valued at $345,000 after buying an additional 80 shares during the last quarter. GW&K Investment Management LLC raised its position in 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 buying an additional 87 shares during the last quarter. CVA Family Office LLC raised its position in Apollo Global Management by 19.7% in the 1st quarter. CVA Family Office LLC now owns 534 shares of the financial services provider's stock valued at $73,000 after buying an additional 88 shares during the last quarter. Finally, World Investment Advisors raised its position in Apollo Global Management by 1.3% in the 1st quarter. World Investment Advisors now owns 7,089 shares of the financial services provider's stock valued at $971,000 after buying an additional 93 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 15,500 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the transaction, the chief financial officer owned 332,399 shares in the company, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 915,000 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the transaction, the insider owned 4,526,000 shares of the company's stock, valued at approximately $606,619,780. This represents a 16.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 935,000 shares of company stock worth $125,543,790. 8.50% of the stock is owned by company insiders.

Apollo Global Management Stock Down 4.2%

APO stock opened at $118.34 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market capitalization of $67.69 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.29 and a beta of 1.68. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The stock has a fifty day moving average of $136.21 and a 200-day moving average of $136.18.

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 for the quarter, topping the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same quarter in the prior year, the company earned $1.64 EPS. As a group, equities research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders 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 annualized dividend and a dividend yield of 1.7%. Apollo Global Management's dividend payout ratio is presently 38.13%.

Wall Street Analyst Weigh In

A number of research firms recently commented on APO. Evercore ISI increased their price target on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Barclays reduced their price objective on Apollo Global Management from $168.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday. Wells Fargo & Company upped their price objective on Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Wall Street Zen downgraded Apollo Global Management from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Finally, Piper Sandler restated an "overweight" rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Apollo Global Management currently has an average rating of "Moderate Buy" and an average price target of $162.57.

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.

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