Leon Black Sells 915,000 Shares of Apollo Global Management (NYSE:APO) Stock

Apollo Global Management Inc. (NYSE:APO) insider Leon Black sold 915,000 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the sale, the insider owned 4,526,000 shares of the company’s stock, valued at $606,619,780. The trade was 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.

Apollo Global Management Stock Performance

NYSE APO opened at $133.71 on Thursday. The company has a market capitalization of $76.48 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 1.45 and a beta of 1.69. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49. The stock has a fifty day simple moving average of $142.18 and a 200 day simple moving average of $137.20. 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 (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, beating analysts’ consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $1.64 earnings per share. Sell-side analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s dividend payout ratio is presently 38.13%.

Hedge Funds Weigh In On Apollo Global Management

A number of institutional investors and hedge funds have recently made changes to their positions in APO. Baird Financial Group Inc. boosted its position in shares of Apollo Global Management by 29.4% during the 4th quarter. Baird Financial Group Inc. now owns 5,452 shares of the financial services provider’s stock worth $900,000 after purchasing an additional 1,238 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Apollo Global Management by 151.2% during the 4th quarter. Captrust Financial Advisors now owns 7,559 shares of the financial services provider’s stock worth $1,249,000 after purchasing an additional 4,550 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Apollo Global Management by 17.6% during the 4th quarter. Cetera Investment Advisers now owns 64,609 shares of the financial services provider’s stock worth $10,671,000 after purchasing an additional 9,657 shares in the last quarter. EP Wealth Advisors LLC boosted its position in shares of Apollo Global Management by 1.9% during the 4th quarter. EP Wealth Advisors LLC now owns 5,560 shares of the financial services provider’s stock worth $918,000 after purchasing an additional 104 shares in the last quarter. Finally, Fiduciary Trust Co bought a new position in Apollo Global Management in the 4th quarter valued at about $246,000. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays increased their price target on Apollo Global Management from $156.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Wells Fargo & Company increased their price target on Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Evercore ISI increased their price target on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, August 6th. Citigroup increased their price target on Apollo Global Management from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. Finally, Wall Street Zen upgraded Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.56.

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.