TCW Group Inc. Sells 84,360 Shares of Apollo Global Management Inc. (NYSE:APO)

Key Points

• TCW Group Inc. has reduced its stake in Apollo Global Management by 18.2%, selling 84,360 shares, and now holds 0.07% of the company valued at approximately $51.8 million.
• In contrast, Geode Capital Management has increased its holdings in Apollo Global Management by 64.6%, holding over 9.4 million shares valued at about $1.55 billion.
• Apollo Global Management recently announced a quarterly dividend increase to $0.51 per share, representing an annual yield of 1.35%.

TCW Group Inc. reduced its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 18.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 378,601 shares of the financial services provider's stock after selling 84,360 shares during the quarter. TCW Group Inc. owned approximately 0.07% of Apollo Global Management worth $51,846,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of APO. Fourth Dimension Wealth LLC acquired a new position in shares of Apollo Global Management during the 4th quarter valued at $25,000. GW&K Investment Management LLC lifted its position in shares of 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 period. ORG Partners LLC lifted its position in shares of 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 period. Farmers & Merchants Investments Inc. acquired a new position in shares of Apollo Global Management during the 1st quarter valued at $39,000. Finally, Colonial Trust Co SC lifted its position in shares of Apollo Global Management by 29.2% during the 4th quarter. Colonial Trust Co SC now owns 350 shares of the financial services provider's stock valued at $58,000 after acquiring an additional 79 shares during the period. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Performance

Shares of NYSE APO traded up $0.26 during midday trading on Thursday, hitting $145.72. 1,292,379 shares of the company's stock traded hands, compared to its average volume of 3,597,601. Apollo Global Management Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The stock has a market capitalization of $83.28 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 1.66 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a fifty day moving average of $140.19 and a 200 day moving average of $142.61.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The company's revenue was down 21.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.72 earnings per share. On average, analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.40%. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. Apollo Global Management's dividend payout ratio is presently 35.73%.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total transaction of $530,280.00. Following the completion of the transaction, the chief financial officer directly owned 373,164 shares in the company, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America upped their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 4th. Morgan Stanley cut their target price on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. 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 research report on Friday, July 11th. Citigroup raised their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Finally, Evercore ISI raised their price objective on shares of Apollo Global Management from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $161.00.

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.