Apollo Global Management Inc. $APO Stake Decreased by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE reduced its stake in Apollo Global Management Inc. (NYSE:APO) by 2.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 98,660 shares of the financial services provider’s stock after selling 2,817 shares during the period. Apollo Global Management comprises 2.4% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 8th biggest holding. Smithbridge Asset Management Inc. DE’s holdings in Apollo Global Management were worth $13,997,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Apollo Global Management by 2.0% during the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock valued at $6,303,186,000 after purchasing an additional 893,428 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Apollo Global Management by 24.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock valued at $490,482,000 after purchasing an additional 706,181 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Apollo Global Management by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider’s stock valued at $412,641,000 after purchasing an additional 112,736 shares during the last quarter. Boston Partners purchased a new stake in Apollo Global Management during the first quarter valued at about $370,543,000. Finally, Allen Investment Management LLC lifted its holdings in Apollo Global Management by 14.4% during the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider’s stock valued at $361,664,000 after purchasing an additional 333,428 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the transaction, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the transaction, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 935,000 shares of company stock worth $125,543,790. Insiders own 8.20% of the company’s stock.

Apollo Global Management Stock Down 5.4%

APO stock opened at $120.86 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $134.68 and its 200 day moving average is $135.85. The stock has a market cap of $69.14 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 1.46 and a beta of 1.68. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same period in the prior year, the business earned $1.64 earnings per share. Sell-side analysts predict that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s dividend payout ratio is 38.13%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wall Street Zen downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apollo Global Management in a report on Wednesday, October 8th. BMO Capital Markets began coverage on Apollo Global Management in a research report on Friday, October 3rd. They set a “market perform” rating and a $132.00 price target on the stock. Evercore ISI upped their price target on Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, August 6th. Finally, Citigroup decreased their price target on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average price target of $161.14.

Apollo Global Management Company 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.