SVB Wealth LLC Lowers Stock Holdings in Apollo Global Management Inc. $APO

Key Points

• SVB Wealth LLC significantly reduced its stake in Apollo Global Management Inc. by 80.0%, selling 4,439 shares and retaining only 1,107 shares valued at $152,000.
• Apollo Global Management recently announced a quarterly dividend of $0.51 per share, representing a 1.5% yield, with a payout ratio of 38.13%.
• Brokerages have raised their price targets for Apollo Global Management, with Barclays increasing its target from $156 to $168, and Citigroup raising it from $160 to $170, indicating positive market sentiment.

SVB Wealth LLC lessened its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 80.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,107 shares of the financial services provider's stock after selling 4,439 shares during the quarter. SVB Wealth LLC's holdings in Apollo Global Management were worth $152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new position in Apollo Global Management during the fourth quarter worth $25,000. GW&K Investment Management LLC grew its position in Apollo Global Management by 84.5% during the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after buying an additional 87 shares in the last quarter. ORG Partners LLC increased its position in shares of Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after purchasing an additional 171 shares during the period. Farmers & Merchants Investments Inc. bought a new position in Apollo Global Management in the 1st quarter valued at about $39,000. Finally, Meeder Asset Management Inc. raised its position in Apollo Global Management by 118.6% during the first quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 172 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Performance

Shares of NYSE:APO traded up $0.66 during midday trading on Thursday, reaching $136.38. 2,190,021 shares of the company traded hands, compared to its average volume of 3,585,999. The firm's fifty day moving average price is $143.01 and its two-hundred day moving average price is $138.88. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The firm has a market capitalization of $78.01 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 1.45 and a beta of 1.62.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The company had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the company earned $1.64 earnings per share. On average, equities analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be issued a $0.51 dividend. The ex-dividend date of this dividend is 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 presently 38.13%.

Analyst Upgrades and Downgrades

APO has been the subject of a number of research reports. 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. Piper Sandler decreased their price target on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Evercore ISI lifted their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. UBS Group lowered their target price on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Barclays upped their price objective on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One 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 company. Based on data from MarketBeat, Apollo Global Management has an average rating of "Moderate Buy" and a consensus price target of $164.56.

Insiders Place Their Bets

In related news, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction on 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 owned 83,192 shares of the company's stock, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction dated 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 transaction, 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. Company insiders own 8.20% 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.