Apollo Global Management Inc. $APO Shares Sold by Steamboat Capital Partners LLC

Key Points

• Steamboat Capital Partners LLC reduced its holdings in Apollo Global Management Inc. by 9.8%, selling 12,002 shares and now owning 110,000 shares valued at approximately $15,063,000.
• Major investors including Boston Partners and Vanguard Group have recently taken significant positions in Apollo, indicating increased institutional interest, with 77.06% of the company's stock now being held by institutional investors.
• Equities analysts have adjusted their price targets for Apollo Global Management, with Wells Fargo raising its target from $160 to $173 and most analysts rating the stock as a Moderate Buy with an average target price of $164.56.

Steamboat Capital Partners LLC cut its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 9.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,000 shares of the financial services provider's stock after selling 12,002 shares during the quarter. Apollo Global Management makes up 4.6% of Steamboat Capital Partners LLC's investment portfolio, making the stock its 4th biggest holding. Steamboat Capital Partners LLC's holdings in Apollo Global Management were worth $15,063,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in APO. Fourth Dimension Wealth LLC purchased a new stake in Apollo Global Management during the 4th quarter valued at approximately $25,000. GW&K Investment Management LLC raised its stake in Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. ORG Partners LLC raised its stake in Apollo Global Management by 285.0% during the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. purchased a new position in shares of Apollo Global Management during the 1st quarter worth approximately $39,000. Finally, Meeder Asset Management Inc. raised its stake in shares of Apollo Global Management by 118.6% during the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock worth $43,000 after buying an additional 172 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Apollo Global Management Trading Down 2.4%

Apollo Global Management stock traded down $3.20 during midday trading on Wednesday, reaching $132.64. The stock had a trading volume of 4,544,644 shares, compared to its average volume of 3,234,820. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49. The stock has a market capitalization of $75.87 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 1.47 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. The stock's 50-day simple moving average is $143.08 and its 200 day simple moving average is $138.08.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share 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 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 quarter last year, the firm earned $1.64 earnings per share. Analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

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

Insider Activity at Apollo Global Management

In other news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the transaction, the insider owned 83,192 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 15,500 shares of the company's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.50% of the company's stock.

Apollo Global Management 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.