Ensign Peak Advisors Inc Sells 156,787 Shares of Apollo Global Management, Inc. (NYSE:APO)

Ensign Peak Advisors Inc reduced its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,669,218 shares of the financial services provider’s stock after selling 156,787 shares during the quarter. Ensign Peak Advisors Inc owned about 0.29% of Apollo Global Management worth $197,085,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Los Angeles Capital Management LLC increased its stake in Apollo Global Management by 112.3% in the first quarter. Los Angeles Capital Management LLC now owns 1,045,422 shares of the financial services provider’s stock valued at $117,558,000 after purchasing an additional 552,893 shares in the last quarter. Wells Fargo & Company MN grew its stake in Apollo Global Management by 5.6% in the fourth quarter. Wells Fargo & Company MN now owns 950,731 shares of the financial services provider’s stock valued at $88,599,000 after acquiring an additional 50,008 shares during the period. CenterBook Partners LP increased its holdings in shares of Apollo Global Management by 59.9% in the fourth quarter. CenterBook Partners LP now owns 20,739 shares of the financial services provider’s stock worth $1,933,000 after acquiring an additional 7,769 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Apollo Global Management by 49.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 52,576 shares of the financial services provider’s stock worth $4,900,000 after purchasing an additional 17,361 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in shares of Apollo Global Management by 33.1% during the 4th quarter. Intech Investment Management LLC now owns 75,369 shares of the financial services provider’s stock valued at $7,024,000 after purchasing an additional 18,751 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Up 2.4 %

APO opened at $124.54 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $113.64 and its 200 day simple moving average is $113.66. Apollo Global Management, Inc. has a 1-year low of $77.11 and a 1-year high of $126.45. The stock has a market cap of $70.76 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $873.18 million. During the same quarter in the prior year, the business posted $1.54 EPS. As a group, research analysts expect that Apollo Global Management, Inc. will post 6.62 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s payout ratio is 20.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $124.00 to $123.00 in a research note on Tuesday, August 6th. Argus dropped their price target on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.06.

Insider Transactions at Apollo Global Management

In other news, Director Pauline Richards acquired 2,351 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $104.92 per share, with a total value of $246,666.92. Following the acquisition, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.50% of the stock is owned by corporate insiders.

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.