Boston Partners Reduces Stock Holdings in Apollo Global Management Inc. $APO

Boston Partners lowered its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 43.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,529,577 shares of the financial services provider’s stock after selling 1,189,444 shares during the quarter. Boston Partners owned approximately 0.27% of Apollo Global Management worth $217,297,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in APO. GW&K Investment Management LLC raised its position in Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares during the period. Activest Wealth Management increased its stake in shares of Apollo Global Management by 875.0% in the 2nd quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 175 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in shares of Apollo Global Management by 6,900.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 207 shares in the last quarter. Andra AP fonden purchased a new position in Apollo Global Management during the second quarter valued at $31,000. Finally, Bay Harbor Wealth Management LLC grew its holdings in Apollo Global Management by 5,200.0% during the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insiders Place Their Bets

In related news, 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 sale, the insider owned 4,526,000 shares of the company’s stock, valued at $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.20% of the company’s stock.

Apollo Global Management Stock Up 1.5%

APO opened at $132.90 on Wednesday. The company has a market capitalization of $76.02 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 1.42 and a beta of 1.63. The firm has a 50-day simple moving average of $130.78 and a two-hundred day simple moving average of $136.36. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49.

Apollo Global Management (NYSE:APO) last posted its earnings results on Tuesday, November 4th. The financial services provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.24. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $4.92 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The firm’s revenue for the quarter was down 20.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 earnings per share. Analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. Apollo Global Management’s dividend payout ratio (DPR) is 29.82%.

Analyst Ratings Changes

APO has been the topic of several recent research reports. Wall Street Zen raised Apollo Global Management from a “sell” rating to a “hold” rating in a research note on Saturday. BMO Capital Markets initiated 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 target price on the stock. Barclays upped their price target on shares of Apollo Global Management from $147.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Citigroup reduced their price objective on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Apollo Global Management from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

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.