Hollencrest Capital Management Sells 9,998 Shares of Apollo Global Management, Inc. (NYSE:APO)

Hollencrest Capital Management cut its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 78.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,710 shares of the financial services provider’s stock after selling 9,998 shares during the period. Hollencrest Capital Management’s holdings in Apollo Global Management were worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. DSM Capital Partners LLC bought a new position in Apollo Global Management during the fourth quarter valued at $31,000. True Wealth Design LLC bought a new position in Apollo Global Management in the 4th quarter valued at $33,000. Cullen Frost Bankers Inc. bought a new stake in shares of Apollo Global Management during the second quarter worth $35,000. Carolinas Wealth Consulting LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter valued at $38,000. Finally, J.Safra Asset Management Corp lifted its holdings in Apollo Global Management by 709.3% during the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock valued at $39,000 after buying an additional 305 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Pauline Richards purchased 2,351 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the transaction, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $121.58 on Friday. The firm has a market cap of $69.08 billion, a PE ratio of 13.46, a P/E/G ratio of 1.13 and a beta of 1.61. Apollo Global Management, Inc. has a twelve month low of $77.11 and a twelve month high of $126.45. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $113.55 and a 200 day moving average price of $113.52.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data 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 business had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same quarter last year, the firm earned $1.54 earnings per share. Sell-side analysts predict that Apollo Global Management, Inc. will post 6.62 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Analysts Set New Price Targets

APO has been the topic of several research analyst reports. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $124.00 to $123.00 in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods increased their target price on Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. TD Cowen raised their target price on shares of Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, Wells Fargo & Company assumed coverage on Apollo Global Management in a research report on Thursday, September 12th. They issued an “overweight” rating and a $132.00 price objective for the company. One 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $129.06.

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.