Voya Investment Management LLC Sells 2,331,426 Shares of Apollo Global Management Inc. $APO

Key Points

• Voya Investment Management LLC significantly reduced its stake in Apollo Global Management Inc. by 93.3%, now holding 167,545 shares after selling over 2.3 million shares during the 1st quarter.
• Multiple institutional investors have altered their positions in Apollo, with Principal Financial Group Inc. increasing its stake by 1.4% and Clearview Wealth Advisors LLC boosting theirs by 420.7% during the same period.
• Apollo Global Management recently reported earnings of $1.92 per share, exceeding analysts' estimates, and declared a quarterly dividend of $0.51, with a dividend yield of 1.5%.

Voya Investment Management LLC lessened its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 93.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 167,545 shares of the financial services provider's stock after selling 2,331,426 shares during the period. Voya Investment Management LLC's holdings in Apollo Global Management were worth $22,944,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings 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 increased its stake in 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 purchasing an additional 87 shares in the last quarter. ORG Partners LLC increased its stake in Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 171 shares in the last quarter. Farmers & Merchants Investments Inc. bought a new stake in Apollo Global Management in the first quarter valued at $39,000. Finally, Rise Advisors LLC bought a new stake in Apollo Global Management in the first quarter valued at $42,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Stock Performance

Shares of NYSE APO traded up $1.62 during midday trading on Friday, hitting $145.11. The company's stock had a trading volume of 5,988,889 shares, compared to its average volume of 3,222,195. The stock has a fifty day moving average price of $141.42 and a 200 day moving average price of $136.93. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $83.01 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 1.55 and a beta of 1.69.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (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 for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm posted $1.64 earnings per share. On average, research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a $0.51 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 annualized dividend and a dividend yield of 1.4%. Apollo Global Management's payout ratio is 38.13%.

Analyst Upgrades and Downgrades

APO has been the subject of several research analyst reports. Citigroup lifted their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Barclays boosted their price target 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. Wall Street Zen upgraded shares of Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Evercore ISI boosted their price target 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. Finally, Wells Fargo & Company boosted their price target 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 assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $164.56.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 15,500 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the sale, the chief financial officer owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction that occurred 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 sale, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 935,000 shares of company stock valued at $125,543,790. 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.