Vontobel Holding Ltd. Cuts Position in Apollo Global Management, Inc. (NYSE:APO)

Vontobel Holding Ltd. lowered its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 64.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,918 shares of the financial services provider’s stock after selling 12,633 shares during the period. Vontobel Holding Ltd.’s holdings in Apollo Global Management were worth $864,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in APO. Fisher Asset Management LLC acquired a new position in Apollo Global Management in the fourth quarter worth $266,000. Ballentine Partners LLC acquired a new position in Apollo Global Management in the first quarter worth $286,000. Riverview Trust Co acquired a new position in Apollo Global Management in the first quarter worth $45,000. Kingswood Wealth Advisors LLC boosted its holdings in Apollo Global Management by 10.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,255 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 318 shares during the period. Finally, CIC Wealth LLC boosted its holdings in shares of Apollo Global Management by 16.5% during the first quarter. CIC Wealth LLC now owns 13,681 shares of the financial services provider’s stock valued at $1,538,000 after acquiring an additional 1,935 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling

In related news, Director Pauline Richards acquired 2,351 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the acquisition, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Trading Down 0.1 %

APO opened at $145.01 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. Apollo Global Management, Inc. has a fifty-two week low of $77.11 and a fifty-two week high of $146.82. The firm has a 50 day simple moving average of $120.81 and a 200 day simple moving average of $116.89. The company has a market cap of $82.39 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62.

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 for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. During the same quarter in the prior year, the business earned $1.54 earnings per share. On average, sell-side analysts anticipate that Apollo Global Management, Inc. will post 6.66 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.28%. Apollo Global Management’s payout ratio is 20.49%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on APO. Barclays boosted their price target on shares of Apollo Global Management from $128.00 to $148.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Argus reduced their price target on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. The Goldman Sachs Group boosted their price target on shares of Apollo Global Management from $128.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Evercore ISI boosted their price target on shares of Apollo Global Management from $127.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.06.

About Apollo Global Management

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.