Merrion Investment Management Co LLC Sells 250 Shares of Apollo Global Management, Inc. (NYSE:APO)

Merrion Investment Management Co LLC lessened its holdings in Apollo Global Management, Inc. (NYSE:APO) by 3.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,605 shares of the financial services provider’s stock after selling 250 shares during the period. Merrion Investment Management Co LLC’s holdings in Apollo Global Management were worth $743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of APO. Vanguard Group Inc. lifted its stake in Apollo Global Management by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock worth $3,824,342,000 after purchasing an additional 750,781 shares in the last quarter. Capital International Investors increased its stake in Apollo Global Management by 2.1% during the fourth quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock worth $1,004,161,000 after acquiring an additional 218,566 shares during the last quarter. Norges Bank purchased a new stake in Apollo Global Management during the fourth quarter valued at approximately $586,016,000. Putnam Investments LLC lifted its stake in shares of Apollo Global Management by 2.8% in the 4th quarter. Putnam Investments LLC now owns 5,939,220 shares of the financial services provider’s stock valued at $553,476,000 after purchasing an additional 164,400 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of Apollo Global Management by 4,248.9% in the 4th quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock worth $229,176,000 after purchasing an additional 2,402,686 shares during the period. 77.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 30,000 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total value of $3,338,700.00. Following the completion of the sale, the chief financial officer now directly owns 359,445 shares in the company, valued at $40,002,634.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. 8.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on APO. JMP Securities reiterated a “market perform” rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. BMO Capital Markets increased their price target on Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Evercore ISI increased their price target on Apollo Global Management from $120.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. increased their price target on Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Finally, Barclays dropped their price target on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average price target of $115.62.

Apollo Global Management Stock Up 0.1 %

Apollo Global Management stock traded up $0.07 during midday trading on Friday, reaching $118.07. The company’s stock had a trading volume of 15,003,094 shares, compared to its average volume of 2,497,453. The stock’s 50-day simple moving average is $114.34 and its 200-day simple moving average is $107.98. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.60 and a quick ratio of 1.60. Apollo Global Management, Inc. has a 52-week low of $73.77 and a 52-week high of $119.69. The stock has a market capitalization of $67.08 billion, a P/E ratio of 13.08, a PEG ratio of 0.98 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21). Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. The business had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $827.33 million. On average, sell-side analysts expect that Apollo Global Management, Inc. will post 7.14 EPS for the current year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a $0.463 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This is a boost 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 1.57%. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

Apollo Global Management Profile

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.