Westfield Capital Management Co. LP Sells 14,637 Shares of Apollo Global Management, Inc. (NYSE:APO)

Westfield Capital Management Co. LP decreased its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 807,996 shares of the financial services provider’s stock after selling 14,637 shares during the period. Westfield Capital Management Co. LP owned 0.14% of Apollo Global Management worth $75,297,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Apollo Global Management by 117.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,098 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 2,217 shares in the last quarter. Yousif Capital Management LLC grew its stake in Apollo Global Management by 12.3% in the third quarter. Yousif Capital Management LLC now owns 7,134 shares of the financial services provider’s stock valued at $640,000 after acquiring an additional 780 shares during the period. Principal Financial Group Inc. grew its stake in Apollo Global Management by 5.0% in the third quarter. Principal Financial Group Inc. now owns 79,419 shares of the financial services provider’s stock valued at $7,129,000 after acquiring an additional 3,761 shares during the period. SageView Advisory Group LLC bought a new stake in shares of Apollo Global Management during the third quarter valued at approximately $225,000. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Apollo Global Management by 0.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 99,900 shares of the financial services provider’s stock worth $8,967,000 after purchasing an additional 409 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

APO traded up $2.64 during trading on Friday, hitting $115.52. 1,944,715 shares of the company traded hands, compared to its average volume of 2,085,430. Apollo Global Management, Inc. has a one year low of $62.97 and a one year high of $117.15. The stock’s fifty day moving average is $111.89 and its 200 day moving average is $103.22. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. The firm has a market cap of $65.63 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 0.93 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21). The company had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $827.33 million. Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. As a group, equities analysts predict that Apollo Global Management, Inc. will post 7.19 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.463 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Thursday, May 16th. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

Insider Buying and Selling at Apollo Global Management

In other news, insider Leon D. Black sold 450,000 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total transaction of $49,819,500.00. Following the completion of the transaction, the insider now owns 42,604,773 shares in the company, valued at approximately $4,716,774,418.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Apollo Global Management news, CFO Martin Kelly sold 30,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the sale, the chief financial officer now owns 359,445 shares of the company’s stock, valued at approximately $40,002,634.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Leon D. Black sold 450,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the transaction, the insider now directly owns 42,604,773 shares of the company’s stock, valued at $4,716,774,418.83. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on APO. Evercore ISI boosted their price target on shares of Apollo Global Management from $120.00 to $128.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Barclays decreased their target price on shares of Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. JMP Securities reiterated a “market perform” rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price objective on Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Finally, Wells Fargo & Company raised their target price on Apollo Global Management from $110.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and an average price target of $115.62.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.