Abacus Planning Group Inc. Cuts Holdings in Apollo Global Management Inc. $APO

Abacus Planning Group Inc. trimmed its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 5.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,793 shares of the financial services provider’s stock after selling 163 shares during the period. Abacus Planning Group Inc.’s holdings in Apollo Global Management were worth $396,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of APO. GW&K Investment Management LLC grew its holdings in shares of Apollo Global Management by 84.5% in the 1st 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. ORG Partners LLC grew its holdings in shares of Apollo Global Management by 285.0% in the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 171 shares during the period. Farmers & Merchants Investments Inc. acquired a new stake in shares of Apollo Global Management in the 1st quarter worth approximately $39,000. Rise Advisors LLC acquired a new stake in shares of Apollo Global Management in the 1st quarter worth approximately $42,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Apollo Global Management by 118.6% in the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 172 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apollo Global Management

In other news, insider Whitney Chatterjee sold 4,500 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the sale, the insider owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% 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. Also, insider Leon D. Black sold 915,000 shares of the firm’s stock in a transaction 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 sale, the insider owned 4,526,000 shares in the company, valued at $606,619,780. This trade represents a 16.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 935,000 shares of company stock worth $125,543,790 over the last quarter. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $127.09 on Friday. The business’s fifty day moving average price is $138.85 and its two-hundred day moving average price is $137.11. The stock has a market cap of $72.70 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 1.40 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 one year low of $102.58 and a one year high of $189.49.

Apollo Global Management (NYSE:APO) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating 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 firm had revenue of $6,550,000 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. On average, analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a dividend of $0.51 per share. The ex-dividend date was Monday, August 18th. This represents a $2.04 annualized dividend and a dividend yield of 1.6%. Apollo Global Management’s dividend payout ratio (DPR) is 38.13%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on APO. Barclays upped 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. Citigroup upped 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. Wells Fargo & Company upped 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. Wall Street Zen upgraded Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Evercore ISI increased their target price on Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $167.93.

Apollo Global Management Company 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.