Securian Asset Management Inc. Sells 135 Shares of Apollo Global Management Inc. $APO

Securian Asset Management Inc. decreased its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 23,553 shares of the financial services provider’s stock after selling 135 shares during the quarter. Securian Asset Management Inc.’s holdings in Apollo Global Management were worth $3,341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Y.D. More Investments Ltd boosted its stake in Apollo Global Management by 14.4% during the 1st quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 78 shares during the period. Walled Lake Planning & Wealth Management LLC boosted its stake in Apollo Global Management by 3.3% during the 1st quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider’s stock valued at $345,000 after purchasing an additional 80 shares during the period. GW&K Investment Management LLC boosted its stake in Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the period. World Investment Advisors boosted its stake in Apollo Global Management by 1.3% during the 1st quarter. World Investment Advisors now owns 7,089 shares of the financial services provider’s stock valued at $971,000 after purchasing an additional 93 shares during the period. Finally, Tower Wealth Partners Inc. raised its holdings in Apollo Global Management by 4.7% in the 2nd quarter. Tower Wealth Partners Inc. now owns 2,086 shares of the financial services provider’s stock valued at $296,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on APO. 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 report on Wednesday, August 6th. Wall Street Zen cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Wells Fargo & Company upped their price target on Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apollo Global Management in a report on Wednesday, October 8th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and an average target price of $162.57.

Insider Transactions at Apollo Global Management

In other news, insider Leon D. Black sold 915,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the transaction, the insider directly owned 4,526,000 shares of the company’s stock, valued at approximately $606,619,780. This represents a 16.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the transaction, the chief financial officer directly owned 332,399 shares of the company’s stock, valued at approximately $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. In the last ninety days, insiders sold 935,000 shares of company stock valued at $125,543,790. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Trading Up 0.6%

Shares of APO opened at $125.89 on Wednesday. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49. 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 stock has a 50 day simple moving average of $133.56 and a 200-day simple moving average of $135.83. The stock has a market cap of $72.01 billion, a PE ratio of 23.53, a PEG ratio of 1.43 and a beta of 1.68.

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

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.51 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. Apollo Global Management’s dividend payout ratio is presently 38.13%.

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.