OFI Invest Asset Management Sells 8,078 Shares of Apollo Global Management Inc. $APO

OFI Invest Asset Management lowered its stake in Apollo Global Management Inc. (NYSE:APO) by 54.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,802 shares of the financial services provider’s stock after selling 8,078 shares during the quarter. OFI Invest Asset Management’s holdings in Apollo Global Management were worth $965,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GW&K Investment Management LLC raised 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 valued at $26,000 after acquiring an additional 87 shares in the last quarter. ORG Partners LLC raised 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 valued at $32,000 after acquiring an additional 171 shares in the last quarter. Bay Harbor Wealth Management LLC raised its holdings in shares of Apollo Global Management by 5,200.0% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 260 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in shares of Apollo Global Management in the 1st quarter valued at about $39,000. Finally, Rise Advisors LLC purchased a new stake in shares of Apollo Global Management in the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on APO. Wall Street Zen cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a report on Tuesday, October 7th. Citigroup raised their price objective on Apollo Global Management from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, July 10th. Evercore ISI raised their price objective on Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company raised their price objective on Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.57.

Insiders Place Their Bets

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the transaction, the insider directly owned 83,192 shares of the company’s stock, valued at $12,148,527.76. The trade was a 5.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Martin Kelly sold 15,500 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at $48,234,418.89. This trade represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 935,000 shares of company stock valued at $125,543,790 in the last ninety days. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $118.34 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The business’s 50 day simple moving average is $136.21 and its two-hundred day simple moving average is $136.18. The stock has a market capitalization of $67.69 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.29 and a beta of 1.68. 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 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 business had revenue of $6,550,000 billion for 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 period in the previous year, the firm earned $1.64 EPS. Analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s payout ratio is 38.13%.

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.