Apollo Global Management, Inc. (NYSE:APO) Stake Lessened by Naples Global Advisors LLC

Naples Global Advisors LLC decreased its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 28.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,725 shares of the financial services provider’s stock after selling 1,850 shares during the quarter. Naples Global Advisors LLC’s holdings in Apollo Global Management were worth $558,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Apollo Global Management during the 4th quarter valued at about $586,016,000. Curated Wealth Partners LLC increased its stake in Apollo Global Management by 200.3% in the 2nd quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after buying an additional 4,717,661 shares during the period. TD Asset Management Inc lifted its position in 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 buying an additional 2,402,686 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Apollo Global Management by 40.3% during the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after buying an additional 1,360,525 shares during the period. Finally, Third Point LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at $83,871,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Pauline Richards acquired 2,351 shares of the stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the purchase, the director now owns 85,854 shares in the company, valued at approximately $9,007,801.68. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

Shares of NYSE:APO traded up $0.63 during trading on Friday, hitting $111.00. 1,950,123 shares of the stock were exchanged, compared to its average volume of 2,536,742. The company’s fifty day simple moving average is $116.33 and its 200-day simple moving average is $112.95. 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 company has a market capitalization of $63.07 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 0.95 and a beta of 1.59. Apollo Global Management, Inc. has a 1-year low of $77.11 and a 1-year high of $126.45.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.03). Apollo Global Management had a net margin of 21.90% and a return on equity of 17.97%. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $873.18 million. During the same period last year, the firm earned $1.54 EPS. Sell-side analysts expect that Apollo Global Management, Inc. will post 7.09 EPS for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Jefferies Financial Group cut their price objective on Apollo Global Management from $119.00 to $117.00 and set a “hold” rating for the company in a report on Thursday, May 9th. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. TD Cowen increased their price objective on Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Keefe, Bruyette & Woods raised their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $124.62.

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.