Apollo Global Management, Inc. (NYSE:APO) Shares Sold by ProVise Management Group LLC

ProVise Management Group LLC cut its stake in Apollo Global Management, Inc. (NYSE:APO) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,043 shares of the financial services provider’s stock after selling 100 shares during the period. ProVise Management Group LLC’s holdings in Apollo Global Management were worth $477,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Jump Financial LLC increased its holdings in shares of Apollo Global Management by 50.9% during the fourth quarter. Jump Financial LLC now owns 4,878 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 1,645 shares during the period. PNC Financial Services Group Inc. boosted its position in Apollo Global Management by 0.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 27,775 shares of the financial services provider’s stock worth $2,588,000 after acquiring an additional 117 shares during the period. Balentine LLC lifted its holdings in shares of Apollo Global Management by 10.6% during the 4th quarter. Balentine LLC now owns 2,724 shares of the financial services provider’s stock valued at $254,000 after buying an additional 262 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Apollo Global Management by 5.6% during the 4th quarter. Wells Fargo & Company MN now owns 950,731 shares of the financial services provider’s stock valued at $88,599,000 after buying an additional 50,008 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at about $83,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apollo Global Management

In other news, Director Pauline Richards bought 2,351 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the purchase, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 8.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on APO. Deutsche Bank Aktiengesellschaft cut their price objective on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. TD Cowen lifted their price target on Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Wells Fargo & Company initiated coverage on Apollo Global Management in a research note on Thursday, September 12th. They issued an “overweight” rating and a $132.00 target price for the company. Redburn Atlantic began coverage on 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. Finally, StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.06.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $124.54 on Friday. The business’s 50-day simple moving average is $113.56 and its 200 day simple moving average is $113.57. The stock has a market cap of $70.76 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 1.13 and a beta of 1.61. Apollo Global Management, Inc. has a 12-month low of $77.11 and a 12-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.

Apollo Global Management (NYSE:APO) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share 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 16.98%. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. During the same period in the previous year, the company posted $1.54 EPS. As a group, research analysts anticipate that Apollo Global Management, Inc. will post 6.62 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders 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 dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s dividend payout ratio is currently 20.49%.

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.