Procyon Advisors LLC Decreases Stake in Apollo Global Management Inc. $APO

Key Points

• Procyon Advisors LLC has significantly reduced its stake in Apollo Global Management, selling 26,787 shares and holding only 6,086 shares by the end of the second quarter, valued at $863,000.
• Multiple analysts have raised their price targets for Apollo Global Management, with recommendations varying from "buy" to "overweight," suggesting a positive outlook for the stock.
• Apollo Global Management recently declared a quarterly dividend of $0.51 per share, representing an annual yield of 1.5%, with a payout ratio of 38.13%.

Procyon Advisors LLC decreased its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 81.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,086 shares of the financial services provider's stock after selling 26,787 shares during the quarter. Procyon Advisors LLC's holdings in Apollo Global Management were worth $863,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new position in Apollo Global Management in the fourth quarter valued at approximately $25,000. GW&K Investment Management LLC lifted its position in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares in the last quarter. ORG Partners LLC lifted its position in shares of Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after purchasing an additional 171 shares in the last quarter. Farmers & Merchants Investments Inc. bought a new stake in shares of Apollo Global Management in the first quarter worth $39,000. Finally, Rise Advisors LLC bought a new stake in shares of Apollo Global Management in the first quarter worth $42,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Insider Transactions at Apollo Global Management

In other news, insider Leon D. Black sold 915,000 shares of Apollo Global Management 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 sale, the insider directly owned 4,526,000 shares in the company, valued at $606,619,780. The trade was a 16.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of Apollo Global Management stock in a transaction 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 sale, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 935,000 shares of company stock worth $125,543,790 in the last ninety days. Company insiders own 8.20% of the company's stock.

Wall Street Analyst Weigh In

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

Apollo Global Management Stock Up 1.1%

NYSE:APO traded up $1.62 during trading hours on Friday, hitting $145.11. 5,988,889 shares of the company traded hands, compared to its average volume of 3,222,195. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm's 50-day simple moving average is $141.42 and its 200-day simple moving average is $136.90. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49. The company has a market cap of $83.01 billion, a PE ratio of 27.12, a PEG ratio of 1.56 and a beta of 1.69.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results 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. 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 period in the previous year, the business posted $1.64 EPS. Equities analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, August 18th. Apollo Global Management's payout ratio is presently 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.