WINTON GROUP Ltd Trims Stock Position in Apollo Global Management Inc. $APO

Key Points

• WINTON GROUP Ltd reduced its Apollo Global Management stake by 80.5% in the second quarter, selling 28,433 shares and retaining 6,900 shares valued at approximately $816,000.
• Institutional ownership remains high at 77.06%, while analysts maintain a generally positive outlook: Apollo has a “Moderate Buy” consensus rating and a $152.15 average price target.
• Apollo reported quarterly earnings of $2.11 per share, slightly below the $2.16 estimate, and revenue of $5.57 billion versus the $5.65 billion forecast. The company also declared a quarterly dividend of $0.5625 per share, representing a 1.8% yield.

WINTON GROUP Ltd cut its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 80.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,900 shares of the financial services provider's stock after selling 28,433 shares during the period. WINTON GROUP Ltd's holdings in Apollo Global Management were worth $816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in shares of Apollo Global Management by 4.5% in the fourth quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider's stock worth $522,850,000 after buying an additional 155,857 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Apollo Global Management during the first quarter valued at approximately $2,641,000. PNC Financial Services Group Inc. raised its position in Apollo Global Management by 13.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 67,512 shares of the financial services provider's stock valued at $9,773,000 after acquiring an additional 8,003 shares in the last quarter. Hsbc Holdings PLC raised its position in Apollo Global Management by 7.1% during the fourth quarter. Hsbc Holdings PLC now owns 894,451 shares of the financial services provider's stock valued at $129,786,000 after acquiring an additional 59,585 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Apollo Global Management by 1,137.6% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,355 shares of the financial services provider's stock valued at $3,526,000 after acquiring an additional 22,387 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on APO shares. Morgan Stanley lowered their price objective on Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 21st. JPMorgan Chase & Co. lifted their target price on shares of Apollo Global Management from $150.00 to $154.00 and gave the company an "overweight" rating in a report on Wednesday, September 2nd. UBS Group boosted their target price on shares of Apollo Global Management from $157.00 to $172.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 21st. Finally, HSBC started coverage on shares of Apollo Global Management in a research report on Monday, July 20th. They set a "buy" rating and a $145.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Apollo Global Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.15.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the sale, the chief financial officer owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.30% of the stock is currently owned by insiders.

Apollo Global Management Stock Down 0.5%

Shares of APO opened at $128.31 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $153.29. The stock's 50 day moving average is $128.44 and its two-hundred day moving average is $123.49. The firm has a market cap of $75.77 billion, a P/E ratio of 47.00, a PEG ratio of 1.13 and a beta of 1.52.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period in the previous year, the company earned $1.92 earnings per share. Analysts predict that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were issued a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Wednesday, August 19th. Apollo Global Management's dividend payout ratio (DPR) is presently 82.42%.

Apollo Global Management Company Profile

Apollo Global Management, Inc NYSE: APO is a global alternative asset manager that provides investment management and retirement services. The company serves institutional investors, businesses and individual investors through a range of strategies focused on private equity, credit, real assets and other long-term investments.

Apollo's asset-management business invests across industries and geographies, with activities that include corporate and structured credit, private equity, infrastructure, real estate and hybrid strategies.

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