Stratos Wealth Partners LTD. Sells 696 Shares of Apollo Global Management Inc. $APO

Stratos Wealth Partners LTD. lowered its position in Apollo Global Management Inc. (NYSE:APO) by 10.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,188 shares of the financial services provider’s stock after selling 696 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Apollo Global Management were worth $878,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Angeles Wealth Management LLC raised its stake in shares of Apollo Global Management by 2.0% in the second quarter. Angeles Wealth Management LLC now owns 4,964 shares of the financial services provider’s stock valued at $704,000 after acquiring an additional 99 shares during the period. Applied Finance Capital Management LLC purchased a new stake in shares of Apollo Global Management in the second quarter valued at $1,223,000. Nordea Investment Management AB raised its stake in shares of Apollo Global Management by 6.2% in the second quarter. Nordea Investment Management AB now owns 34,068 shares of the financial services provider’s stock valued at $4,865,000 after acquiring an additional 1,991 shares during the period. Harbor Asset Planning Inc. purchased a new stake in shares of Apollo Global Management in the second quarter valued at $103,000. Finally, Activest Wealth Management raised its stake in shares of Apollo Global Management by 875.0% in the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of APO opened at $126.43 on Thursday. The stock has a market capitalization of $72.32 billion, a PE ratio of 23.63, a PEG ratio of 1.44 and a beta of 1.68. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The company has a 50 day moving average price of $133.27 and a 200-day moving average price of $135.77.

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

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.51 per share. 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 payout ratio is 38.13%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APO. Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a research note on Wednesday, October 8th. Wells Fargo & Company raised their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Citigroup dropped their target price on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Finally, BMO Capital Markets assumed coverage on shares of Apollo Global Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $132.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $162.57.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of Apollo Global Management 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 completion of the sale, the chief financial officer directly owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Leon D. Black sold 915,000 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the completion of the sale, the insider directly owned 4,526,000 shares in the company, valued at $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 935,000 shares of company stock valued at $125,543,790 over the last quarter. 8.20% of the stock is currently owned by company 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.