Apollo Global Management, Inc. (NYSE:APO) Sees Significant Decrease in Short Interest

Apollo Global Management, Inc. (NYSE:APO) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 19,120,000 shares, a decline of 6.5% from the June 30th total of 20,450,000 shares. Based on an average trading volume of 2,380,000 shares, the short-interest ratio is currently 8.0 days.

Insider Activity

In related news, CFO Martin Kelly sold 30,000 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, May 8th. The shares were 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 owns 359,445 shares in the company, valued at approximately $40,002,634.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Apollo Global Management

Several hedge funds and other institutional investors have recently bought and sold shares of APO. Commonwealth Equity Services LLC grew its holdings in shares of Apollo Global Management by 2.3% during the second quarter. Commonwealth Equity Services LLC now owns 64,626 shares of the financial services provider’s stock worth $7,630,000 after purchasing an additional 1,482 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in Apollo Global Management during the 2nd quarter worth approximately $2,242,000. Hantz Financial Services Inc. acquired a new position in Apollo Global Management during the second quarter worth approximately $14,352,000. TFB Advisors LLC increased its position in Apollo Global Management by 10.1% during the second quarter. TFB Advisors LLC now owns 17,919 shares of the financial services provider’s stock worth $2,116,000 after buying an additional 1,650 shares during the period. Finally, WBI Investments LLC purchased a new stake in Apollo Global Management in the second quarter valued at approximately $1,627,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on APO shares. TD Cowen lifted their target price on Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Barclays cut their target price on shares of Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. StockNews.com upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a report on Monday. Jefferies Financial Group dropped their price target on shares of Apollo Global Management from $119.00 to $117.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Finally, BMO Capital Markets increased their price objective on Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $119.29.

Apollo Global Management Stock Up 1.8 %

Shares of NYSE:APO traded up $2.20 on Wednesday, hitting $124.84. 1,051,835 shares of the company’s stock were exchanged, compared to its average volume of 2,351,106. Apollo Global Management has a 1-year low of $77.11 and a 1-year high of $125.49. The company has a market capitalization of $70.93 billion, a PE ratio of 13.72, a P/E/G ratio of 1.00 and a beta of 1.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60. The firm’s 50-day moving average is $118.28 and its 200 day moving average is $112.29.

Apollo Global Management (NYSE:APO) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.21). The business had revenue of $839.00 million for the quarter, compared to analysts’ expectations of $827.33 million. Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. Sell-side analysts predict that Apollo Global Management will post 7.09 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a $0.463 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, May 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.48%. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Apollo Global Management Company 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.