Apollo Global Management Inc. (NYSE:APO) CFO Sells $2,249,205.00 in Stock

Key Points

• Apollo Global Management's CFO, Martin Kelly, sold 15,500 shares at an average price of $145.11, resulting in a transaction totaling approximately $2.25 million, reducing his stock ownership by 4.46%.
• The company reported a quarterly earnings per share (EPS) of $1.92, surpassing expectations and reflecting a year-over-year increase.
• A quarterly dividend of $0.51 per share will be paid on August 29th, 2023, with a current yield of 1.4% and a payout ratio of 38.13%.

Apollo Global Management Inc. (NYSE:APO - Get Free Report) CFO Martin Kelly sold 15,500 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the transaction, the chief financial officer directly owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Apollo Global Management Price Performance

Shares of NYSE APO traded up $0.05 during midday trading on Tuesday, reaching $139.44. 152,633 shares of the stock traded hands, compared to its average volume of 3,594,158. 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 stock has a market capitalization of $79.77 billion, a PE ratio of 26.01, a P/E/G ratio of 1.45 and a beta of 1.62. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49. The company's 50 day moving average is $142.98 and its 200 day moving average is $139.98.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $1.64 EPS. On average, equities research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders 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 dividend on an annualized basis and a yield of 1.5%. Apollo Global Management's payout ratio is presently 38.13%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in APO. Fourth Dimension Wealth LLC purchased a new position in shares of Apollo Global Management during the 4th quarter worth $25,000. GW&K Investment Management LLC boosted its holdings in 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. Activest Wealth Management raised its position in Apollo Global Management by 875.0% in the 2nd quarter. Activest Wealth Management now owns 195 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 175 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in Apollo Global Management by 6,900.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 207 shares in the last quarter. Finally, Nemes Rush Group LLC acquired a new stake in Apollo Global Management in the 2nd quarter valued at about $30,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on APO shares. Citigroup upped their price objective on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Evercore ISI upped their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Wells Fargo & Company increased their price objective 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 dropped their price objective on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a research report on Saturday. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $161.26.

Apollo Global Management Company 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.