Apollo Global Management Inc. $APO Shares Sold by Scientech Research LLC

Key Points

• Scientech Research LLC reduced its stake in Apollo Global Management Inc. by 42.4%, resulting in ownership of 4,502 shares valued at approximately $617,000.
• Apollo Global Management's latest earnings report showed an EPS of $1.92, exceeding estimates and a net margin of 13.25%, with revenue reaching $6.55 billion.
• The company recently announced a quarterly dividend of $0.51 per share, translating to an annual dividend yield of 1.5%.

Scientech Research LLC lowered its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 42.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,502 shares of the financial services provider's stock after selling 3,317 shares during the quarter. Scientech Research LLC's holdings in Apollo Global Management were worth $617,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Rise Advisors LLC purchased a new position in shares of Apollo Global Management during the first quarter worth about $42,000. PointState Capital LP boosted its holdings in Apollo Global Management by 117.5% in the 1st quarter. PointState Capital LP now owns 614,953 shares of the financial services provider's stock valued at $84,212,000 after purchasing an additional 332,263 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in Apollo Global Management by 0.6% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 48,449 shares of the financial services provider's stock valued at $6,635,000 after purchasing an additional 303 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Apollo Global Management by 1.3% in the 1st quarter. NewEdge Advisors LLC now owns 30,165 shares of the financial services provider's stock valued at $4,131,000 after purchasing an additional 390 shares in the last quarter. Finally, DnB Asset Management AS boosted its holdings in Apollo Global Management by 48.9% in the 1st quarter. DnB Asset Management AS now owns 310,358 shares of the financial services provider's stock valued at $42,500,000 after purchasing an additional 101,919 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

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 completion of the sale, the insider directly owned 4,526,000 shares in the company, valued at $606,619,780. This represents a 16.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Martin Kelly sold 15,500 shares of the company's 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 of the company's stock, valued at approximately $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 sold a total of 935,000 shares of company stock valued at $125,543,790 over the last quarter. Company insiders own 8.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on APO. Evercore ISI lifted their price objective on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Citigroup lifted their price objective on Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Barclays lifted their price objective on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Wells Fargo & Company boosted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.56.

Apollo Global Management Price Performance

APO stock traded up $1.70 on Friday, reaching $138.10. The company had a trading volume of 2,306,536 shares, compared to its average volume of 3,131,071. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49. 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's fifty day moving average is $141.88 and its 200 day moving average is $137.07. The company has a market cap of $79.00 billion, a P/E ratio of 25.81, a PEG ratio of 1.47 and a beta of 1.69.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its 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 for 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 quarter in the prior year, the company earned $1.64 EPS. On average, research analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

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

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.