V Square Quantitative Management LLC Decreases Stake in Apollo Global Management Inc. $APO

Key Points

• V Square Quantitative Management LLC reduced its stake in Apollo Global Management by 43.6%, now holding 4,492 shares valued at approximately $637,000.
• Apollo Global Management reported earnings per share of $1.92 for the latest quarter, surpassing the consensus estimate of $1.84, with revenues reaching $6.55 billion.
• The company declared a quarterly dividend of $0.51, reflecting a 1.5% yield and a payout ratio of 38.13%.

V Square Quantitative Management LLC cut its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 43.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,492 shares of the financial services provider's stock after selling 3,472 shares during the quarter. V Square Quantitative Management LLC's holdings in Apollo Global Management were worth $637,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of APO. GW&K Investment Management LLC boosted its stake in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after buying an additional 87 shares in the last quarter. ORG Partners LLC boosted its position in Apollo Global Management by 285.0% during 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 in the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in Apollo Global Management during the first quarter worth $39,000. Rise Advisors LLC purchased a new stake in Apollo Global Management during the first quarter worth $42,000. Finally, Meeder Asset Management Inc. boosted 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 worth $43,000 after purchasing an additional 172 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $133.38 on Wednesday. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49. The business has a 50-day moving average of $139.78 and a 200-day moving average of $137.24. 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 company has a market capitalization of $76.29 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 1.49 and a beta of 1.69.

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, topping the consensus estimate of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The company had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. On average, equities analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

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

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 915,000 shares of the stock in a transaction dated Thursday, September 4th. The stock was 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 owned 4,526,000 shares of the company's stock, valued at approximately $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the transaction, the chief financial officer directly 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. Over the last 90 days, insiders sold 935,000 shares of company stock valued at $125,543,790. Insiders own 8.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on APO. Barclays boosted their target price on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Wells Fargo & Company boosted their target price on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Wall Street Zen upgraded Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Evercore ISI boosted their price target on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Citigroup boosted their price target on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $166.27.

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.

Want to see what other hedge funds are holding APO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Global Management Inc. (NYSE:APO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.