National Asset Management Inc. cut its stake in shares of Apollo Global Management LLC (NYSE:APO) by 16.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 30,854 shares of the financial services provider’s stock after selling 5,899 shares during the period. National Asset Management Inc.’s holdings in Apollo Global Management were worth $1,034,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in APO. Parallel Advisors LLC lifted its position in Apollo Global Management by 91.8% during the 4th quarter. Parallel Advisors LLC now owns 537 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 257 shares in the last quarter. CWM LLC acquired a new position in Apollo Global Management during the 1st quarter worth approximately $32,000. Coastal Investment Advisors Inc. lifted its position in Apollo Global Management by 102.7% during the 4th quarter. Coastal Investment Advisors Inc. now owns 975 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 494 shares in the last quarter. Moser Wealth Advisors LLC acquired a new position in Apollo Global Management during the 4th quarter worth approximately $48,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Apollo Global Management during the 1st quarter worth approximately $51,000. 68.88% of the stock is currently owned by hedge funds and other institutional investors.
APO has been the topic of several recent research reports. Wells Fargo & Co boosted their price target on Apollo Global Management from $44.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Evercore ISI restated a “hold” rating and set a $50.00 price objective on shares of Apollo Global Management in a report on Sunday, February 2nd. Bank of America restated a “neutral” rating and set a $43.00 price objective (up from $38.00) on shares of Apollo Global Management in a report on Monday, May 4th. Barclays lifted their price objective on Apollo Global Management from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Finally, Argus restated a “buy” rating and set a $55.00 price objective on shares of Apollo Global Management in a report on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.38.
Shares of NYSE APO traded up $0.25 during trading on Friday, reaching $45.21. The stock had a trading volume of 1,493,416 shares, compared to its average volume of 2,143,241. Apollo Global Management LLC has a one year low of $19.46 and a one year high of $52.67. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $10.29 billion, a PE ratio of -31.89, a P/E/G ratio of 1.42 and a beta of 1.60. The firm’s 50 day moving average price is $39.39 and its two-hundred day moving average price is $42.67.
Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.11). Apollo Global Management had a net margin of 31.68% and a return on equity of 40.34%. The firm had revenue of $433.57 million during the quarter, compared to the consensus estimate of $412.13 million. During the same quarter last year, the firm posted $0.67 earnings per share. On average, research analysts expect that Apollo Global Management LLC will post 1.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be issued a $0.42 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.72%. Apollo Global Management’s dividend payout ratio (DPR) is 61.99%.
In related news, Director Marc J. Rowan sold 71,198 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $43.35, for a total transaction of $3,086,433.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marc J. Rowan sold 59,851 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $45.03, for a total value of $2,695,090.53. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,289,625 shares of company stock valued at $97,809,246. 46.90% of the stock is owned by company insiders.
Apollo Global Management Profile
Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.
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