Gabelli Funds LLC Sells 5,000 Shares of Apollo Global Management, Inc. (NYSE:APO)

Gabelli Funds LLC cut its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 14.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,400 shares of the financial services provider’s stock after selling 5,000 shares during the period. Gabelli Funds LLC’s holdings in Apollo Global Management were worth $3,589,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Apollo Global Management by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock valued at $3,824,342,000 after purchasing an additional 750,781 shares in the last quarter. Capital International Investors raised its position in Apollo Global Management by 2.1% during the 4th quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock valued at $1,004,161,000 after purchasing an additional 218,566 shares in the last quarter. Putnam Investments LLC raised its position 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 worth $553,476,000 after acquiring an additional 164,400 shares in the last quarter. Capital Research Global Investors raised its position in shares of Apollo Global Management by 40.3% in the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock worth $532,852,000 after acquiring an additional 1,360,525 shares in the last quarter. Finally, TD Asset Management Inc raised its position in shares of Apollo Global Management by 3.8% in the 2nd quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock worth $318,522,000 after acquiring an additional 97,797 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Trading Down 0.1 %

Apollo Global Management stock opened at $125.06 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. Apollo Global Management, Inc. has a 52 week low of $77.11 and a 52 week high of $126.93. The company has a market capitalization of $71.05 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. The stock has a 50-day moving average price of $113.72 and a 200 day moving average price of $113.94.

Apollo Global Management (NYSE:APO) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same period last year, the firm earned $1.54 EPS. Sell-side analysts anticipate that Apollo Global Management, Inc. will post 6.62 EPS for the current year.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

Insider Activity

In other news, Director Pauline Richards purchased 2,351 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the transaction, the director now owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

APO has been the subject of several recent research reports. Barclays reduced their price target on Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. UBS Group boosted their price target on Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Redburn Partners initiated coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price for the company. Redburn Atlantic started coverage on Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. Finally, StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $129.06.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.