Northeast Financial Consultants Inc Sells 16,571 Shares of Apollo Global Management, Inc. (NYSE:APO)

Northeast Financial Consultants Inc trimmed its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 40.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,781 shares of the financial services provider’s stock after selling 16,571 shares during the period. Northeast Financial Consultants Inc’s holdings in Apollo Global Management were worth $2,926,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Curated Wealth Partners LLC raised its holdings in shares of Apollo Global Management by 200.3% during the second quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after purchasing an additional 4,717,661 shares during the last quarter. Capital Research Global Investors grew its position in 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 purchasing an additional 1,360,525 shares during the period. Third Point LLC purchased a new stake in Apollo Global Management during the 4th quarter valued at $83,871,000. Vanguard Group Inc. raised its stake 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 buying an additional 750,781 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Apollo Global Management by 199.8% during the 1st quarter. Jennison Associates LLC now owns 925,222 shares of the financial services provider’s stock valued at $104,041,000 after buying an additional 616,575 shares during the period. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Up 0.2 %

NYSE APO opened at $125.81 on Friday. Apollo Global Management, Inc. has a 12 month low of $77.11 and a 12 month high of $126.93. 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 has a market cap of $71.48 billion, a PE ratio of 13.93, a P/E/G ratio of 1.30 and a beta of 1.61. The stock’s 50 day moving average is $113.99 and its 200 day moving average is $114.25.

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 the consensus estimate of $1.67 by ($0.03). The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations 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 posted $1.54 EPS. Research analysts predict that Apollo Global Management, Inc. will post 6.62 EPS 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 issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.47%. 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 bought 2,351 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought 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 hyperlink. Company insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on APO shares. Keefe, Bruyette & Woods lifted their price objective on Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. UBS Group upped 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 report on Wednesday, July 10th. TD Cowen raised their price objective on shares of Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Bank of America upgraded shares of Apollo Global Management from a “neutral” rating to a “buy” rating and cut their target price for the company from $124.00 to $123.00 in a research report on Tuesday, August 6th. Finally, Wolfe Research started coverage on shares of Apollo Global Management in a research note on Wednesday. They set an “outperform” rating and a $139.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.65.

Apollo Global Management 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.