Apollo Global Management Inc. $APO Stock Position Cut by Scoggin Management LP

Key Points

• Scoggin Management LP has reduced its stake in Apollo Global Management Inc. by 16.7%, selling 12,500 shares and leaving them with 62,500 shares, valued at approximately $8.56 million.
• Apollo Global Management has reported a quarterly EPS of $1.92, exceeding analysts’ expectations, and announced a dividend of $0.51 per share with an annual yield of 1.5%.
• Insider trading revealed that Apollo's CFO sold 15,500 shares for over $2.24 million, reflecting a decrease in their ownership, while overall institutional ownership stands at 77.06%.

Scoggin Management LP cut its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 16.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,500 shares of the financial services provider's stock after selling 12,500 shares during the period. Apollo Global Management accounts for 2.4% of Scoggin Management LP's portfolio, making the stock its 13th largest position. Scoggin Management LP's holdings in Apollo Global Management were worth $8,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Apollo Global Management by 1.4% in the first quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock valued at $75,347,000 after acquiring an additional 7,441 shares in the last quarter. Clearview Wealth Advisors LLC raised its holdings in Apollo Global Management by 420.7% in the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock valued at $2,952,000 after acquiring an additional 17,418 shares in the last quarter. Toronto Dominion Bank raised its holdings in Apollo Global Management by 209.0% in the fourth quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock valued at $26,864,000 after acquiring an additional 110,014 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Apollo Global Management in the first quarter valued at $871,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Apollo Global Management in the first quarter valued at $492,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on APO. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Citigroup increased their target price on shares of 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 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, Barclays increased their target price on shares of 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 issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $164.56.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock traded down $3.25 during trading on Friday, hitting $131.51. 4,520,545 shares of the stock were exchanged, compared to its average volume of 3,101,840. The stock's fifty day moving average is $142.65 and its 200 day moving average is $137.64. The stock has a market cap of $75.23 billion, a PE ratio of 24.58, a P/E/G ratio of 1.45 and a beta of 1.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. 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 released its quarterly 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 business had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same quarter in the prior year, the firm earned $1.64 earnings per share. As a group, sell-side analysts anticipate that Apollo Global Management Inc. will post 8 EPS 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 given 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 1.6%. Apollo Global Management's dividend payout ratio is currently 38.13%.

Insider Activity

In other news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the transaction, the insider owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the company's stock in a transaction dated 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 transaction, 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. 8.20% of the stock is currently owned by corporate insiders.

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.