Parkwood LLC Has $6.07 Million Stock Holdings in Apollo Global Management Inc. $APO

Key Points

• Parkwood LLC reduced its position in Apollo Global Management by 37.7%, selling 26,842 shares during the first quarter, leaving it with 44,334 shares valued at approximately $6.07 million.
• Several financial institutions, including Principal Financial Group and Clearview Wealth Advisors, have increased their stakes in Apollo Global Management, with Clearview's increase being particularly significant at 420.7%.
• Apollo Global Management recently reported earnings per share (EPS) of $1.92 for the quarter, surpassing estimates, and announced a quarterly dividend of $0.51 per share, indicating a 1.6% dividend yield.

Parkwood LLC trimmed its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 37.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,334 shares of the financial services provider's stock after selling 26,842 shares during the quarter. Parkwood LLC's holdings in Apollo Global Management were worth $6,071,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of APO. Boston Partners acquired a new position in shares of Apollo Global Management in the first quarter valued at $370,543,000. Nuveen LLC acquired a new stake in Apollo Global Management in the 1st quarter valued at $342,335,000. Nuveen Asset Management LLC boosted its stake in Apollo Global Management by 71.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,599,936 shares of the financial services provider's stock valued at $429,405,000 after buying an additional 1,082,825 shares in the last quarter. Vanguard Group Inc. boosted its stake in Apollo Global Management by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock valued at $6,303,186,000 after buying an additional 893,428 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Apollo Global Management by 24.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock worth $490,482,000 after acquiring an additional 706,181 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Evercore ISI increased their price objective on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Wells Fargo & Company increased their price objective on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Wall Street Zen upgraded Apollo Global Management from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Barclays increased their price objective on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Citigroup increased their price objective on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $164.56.

Insider Activity

In other news, insider Leon D. Black sold 915,000 shares of the company's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the transaction, the insider owned 4,526,000 shares of the company's stock, valued at $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Martin Kelly sold 15,500 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $48,234,418.89. This represents a 4.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 935,000 shares of company stock valued at $125,543,790 over the last 90 days. 8.50% of the stock is owned by company insiders.

Apollo Global Management Price Performance

Shares of APO stock traded up $0.16 during trading hours on Tuesday, hitting $134.60. 3,930,703 shares of the company's stock were exchanged, compared to its average volume of 3,215,334. The stock's 50-day moving average is $142.36 and its 200-day moving average is $137.22. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market cap of $77.00 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 1.45 and a beta of 1.69. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion for the quarter, compared to analysts' expectations 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 business earned $1.64 earnings per share. As a group, research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

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. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was 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.