Apollo Global Management Inc. $APO Stock Position Decreased by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in Apollo Global Management by 5.9%, selling 9,270 shares and owning a total of 148,435 shares valued at $20.3 million.
• Other institutional investors made significant changes to their positions, with Caisse DE Depot ET Placement DU Quebec increasing its stake by 6,941.9% to own 105,629 shares.
• Apollo Global Management recently declared a quarterly dividend of $0.51, representing an annualized payout of $2.04 with a 1.5% dividend yield.

Rafferty Asset Management LLC cut its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 5.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,435 shares of the financial services provider's stock after selling 9,270 shares during the quarter. Rafferty Asset Management LLC's holdings in Apollo Global Management were worth $20,327,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Apollo Global Management by 6,941.9% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 105,629 shares of the financial services provider's stock valued at $14,465,000 after purchasing an additional 104,129 shares during the last quarter. ICONIQ Capital LLC grew its holdings in shares of Apollo Global Management by 14.2% during the first quarter. ICONIQ Capital LLC now owns 1,849 shares of the financial services provider's stock valued at $253,000 after purchasing an additional 230 shares during the last quarter. Jump Financial LLC grew its holdings in shares of Apollo Global Management by 573.4% during the first quarter. Jump Financial LLC now owns 70,393 shares of the financial services provider's stock valued at $9,640,000 after purchasing an additional 59,939 shares during the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of Apollo Global Management by 20.3% during the first quarter. Bahl & Gaynor Inc. now owns 596,988 shares of the financial services provider's stock valued at $81,752,000 after purchasing an additional 100,918 shares during the last quarter. Finally, Groupe la Francaise bought a new position in shares of Apollo Global Management during the first quarter valued at approximately $270,000. 77.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on APO. Cowen reissued a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Citigroup increased their price objective on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. 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 report on Friday, July 11th. Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Barclays increased their price objective on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $164.56.

Apollo Global Management Price Performance

NYSE APO traded up $0.13 on Friday, reaching $136.52. 4,975,863 shares of the stock traded hands, compared to its average volume of 3,426,771. The firm's fifty day simple moving average is $143.11 and its 200 day simple moving average is $138.42. 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 company has a market cap of $78.09 billion, a price-to-earnings ratio of 25.52, a P/E/G ratio of 1.47 and a beta of 1.62. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion during the quarter, compared to analyst estimates 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 last year, the company posted $1.64 EPS. As a group, research analysts predict that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders 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 yield of 1.5%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's dividend payout ratio (DPR) is presently 38.13%.

Insiders Place Their Bets

In other Apollo Global Management 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 directly owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the transaction, the insider directly owned 83,192 shares of the company's stock, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.20% of the company's stock.

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.