Apollo Global Management Inc. $APO Shares Sold by Select Equity Group L.P.

Key Points

• Select Equity Group L.P. has significantly reduced its stake in Apollo Global Management by 52.2%, now owning approximately 450,885 shares worth $61.7 million.
• Multiple hedge funds, including Principal Financial Group Inc. and Clearview Wealth Advisors LLC, have increased their stakes in Apollo Global Management, indicating a mixed sentiment among institutional investors.
• Wall Street analysts are optimistic, with several firms raising their target price for Apollo Global Management to between $160 and $173, reflecting a consensus rating of "Moderate Buy" for the stock.

Select Equity Group L.P. lessened its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 52.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 450,885 shares of the financial services provider's stock after selling 493,240 shares during the quarter. Select Equity Group L.P. owned 0.08% of Apollo Global Management worth $61,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Ellevest Inc. boosted its holdings in Apollo Global Management by 1.5% in the 4th quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider's stock valued at $735,000 after purchasing an additional 67 shares in the last quarter. Vivaldi Capital Management LP boosted its holdings in Apollo Global Management by 2.1% in the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider's stock valued at $566,000 after purchasing an additional 71 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in Apollo Global Management by 14.4% during the first quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider's stock worth $85,000 after buying an additional 78 shares in the last quarter. Colonial Trust Co SC boosted its holdings in Apollo Global Management by 29.2% during the fourth quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock worth $58,000 after buying an additional 79 shares in the last quarter. Finally, Walled Lake Planning & Wealth Management LLC boosted its holdings in Apollo Global Management by 3.3% during the first quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider's stock worth $345,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

APO has been the topic of a number of research analyst reports. Citigroup boosted their price objective 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. Evercore ISI boosted their price objective 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. Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Barclays boosted their price objective 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. Finally, Wells Fargo & Company boosted their price objective 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. One 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $164.56.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the transaction, the insider directly owned 4,526,000 shares in the company, valued at $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 935,000 shares of company stock worth $125,543,790. 8.20% of the stock is owned by company insiders.

Apollo Global Management Trading Up 0.7%

NYSE:APO traded up $0.96 on Friday, reaching $137.36. The stock had a trading volume of 820,031 shares, compared to its average volume of 3,575,819. The company has a market cap of $78.57 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 1.44 and a beta of 1.69. 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 firm's fifty day moving average is $142.01 and its two-hundred day moving average is $137.12. 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 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 company had revenue of $6,550,000 billion for 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 period in the prior year, the firm earned $1.64 EPS. Equities analysts expect that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. 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.