Fulton Bank N.A. Lowers Holdings in Apollo Global Management, Inc. (NYSE:APO)

Fulton Bank N.A. lowered its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,846 shares of the financial services provider’s stock after selling 162 shares during the quarter. Fulton Bank N.A.’s holdings in Apollo Global Management were worth $454,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Mather Group LLC. lifted its position in Apollo Global Management by 826.9% in the second quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 645 shares during the period. Quent Capital LLC grew its position in shares of Apollo Global Management by 1.8% in the second quarter. Quent Capital LLC now owns 8,092 shares of the financial services provider’s stock valued at $955,000 after purchasing an additional 146 shares during the period. Beach Investment Counsel Inc. PA boosted its holdings in Apollo Global Management by 22.7% in the second quarter. Beach Investment Counsel Inc. PA now owns 159,548 shares of the financial services provider’s stock valued at $18,838,000 after acquiring an additional 29,518 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Apollo Global Management by 293.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 346 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Apollo Global Management by 352.7% during the second quarter. GAMMA Investing LLC now owns 2,395 shares of the financial services provider’s stock valued at $283,000 after acquiring an additional 1,866 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Trading Up 0.5 %

Shares of APO stock traded up $0.49 during trading hours on Wednesday, reaching $103.95. 2,129,392 shares of the stock traded hands, compared to its average volume of 2,509,130. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $59.06 billion, a PE ratio of 11.46, a PEG ratio of 0.95 and a beta of 1.59. Apollo Global Management, Inc. has a 1-year low of $77.11 and a 1-year high of $126.45. The business has a fifty day moving average price of $117.76 and a 200 day moving average price of $112.75.

Apollo Global Management (NYSE:APO) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 17.97%. During the same period last year, the firm earned $1.54 earnings per share. On average, equities research analysts forecast that Apollo Global Management, Inc. will post 7.09 EPS for the current year.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, August 16th. Apollo Global Management’s dividend payout ratio is currently 20.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Evercore ISI upped their price target on Apollo Global Management from $128.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. TD Cowen upped their price target on shares of Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Jefferies Financial Group decreased their target price on shares of Apollo Global Management from $119.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Finally, Barclays reduced their price target on Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $125.00.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.