Main Street Group LTD Sells 1,729 Shares of Apollo Global Management, Inc. (NYSE:APO)

Main Street Group LTD lessened its position in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 57.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,264 shares of the financial services provider's stock after selling 1,729 shares during the period. Main Street Group LTD's holdings in Apollo Global Management were worth $209,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Apollo Global Management by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock valued at $7,454,560,000 after buying an additional 3,691,700 shares in the last quarter. Geode Capital Management LLC increased its stake in Apollo Global Management by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock worth $1,550,316,000 after acquiring an additional 3,695,979 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Apollo Global Management by 36.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock worth $1,065,615,000 after acquiring an additional 1,739,807 shares in the last quarter. Northern Trust Corp boosted its stake in Apollo Global Management by 50.0% during the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after purchasing an additional 1,460,689 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Apollo Global Management by 60.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider's stock worth $479,057,000 after acquiring an additional 1,094,464 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apollo Global Management

In other news, insider Lb 2018 Gst Trust purchased 607,725 shares of the stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the transaction, the insider now directly owns 621,754 shares in the company, valued at approximately $69,257,178.06. This represents a 4,331.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Martin Kelly sold 5,000 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. This trade represents a 1.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 509,000 shares of company stock worth $72,321,680 in the last 90 days. Insiders own 8.20% of the company's stock.

Wall Street Analyst Weigh In

APO has been the topic of several recent research reports. Cowen reiterated a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Bank of America raised their price target on Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, April 4th. Barclays upped their price target on shares of Apollo Global Management from $145.00 to $156.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Raymond James initiated coverage on Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price objective on the stock. Finally, Keefe, Bruyette & Woods cut their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $157.89.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $145.23 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The business's 50 day moving average price is $132.09 and its 200 day moving average price is $152.54. The company has a market cap of $82.85 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 1.17 and a beta of 1.67. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. During the same period in the previous year, the firm posted $1.72 EPS. The company's revenue was down 21.2% compared to the same quarter last year. On average, research analysts predict that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.51 dividend. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.40%. Apollo Global Management's dividend payout ratio is 35.73%.

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.

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.