Apollo Global Management Inc. $APO Stock Position Cut by InTrack Investment Management Inc

InTrack Investment Management Inc decreased its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 39.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,886 shares of the financial services provider’s stock after selling 5,816 shares during the period. InTrack Investment Management Inc’s holdings in Apollo Global Management were worth $1,051,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Legal & General Group Plc increased its position in shares of Apollo Global Management by 4.5% during the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock valued at $522,850,000 after purchasing an additional 155,857 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Apollo Global Management in the 1st quarter worth $2,641,000. PNC Financial Services Group Inc. lifted its holdings in shares of Apollo Global Management by 13.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 67,512 shares of the financial services provider’s stock valued at $9,773,000 after buying an additional 8,003 shares during the period. NewEdge Wealth LLC boosted its stake in Apollo Global Management by 11.2% during the fourth quarter. NewEdge Wealth LLC now owns 77,114 shares of the financial services provider’s stock valued at $11,163,000 after buying an additional 7,748 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in Apollo Global Management by 1,137.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,355 shares of the financial services provider’s stock valued at $3,526,000 after buying an additional 22,387 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the transaction, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.30% of the stock is currently owned by insiders.

Apollo Global Management Stock Up 0.5%

Shares of Apollo Global Management stock opened at $132.34 on Thursday. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The firm has a market capitalization of $78.15 billion, a PE ratio of 48.48, a price-to-earnings-growth ratio of 1.15 and a beta of 1.52. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The stock’s fifty day moving average is $126.47 and its 200-day moving average is $122.91.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter last year, the business earned $1.92 EPS. Equities analysts anticipate that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Wednesday, August 19th. Apollo Global Management’s dividend payout ratio (DPR) is presently 82.42%.

Analyst Ratings Changes

Several equities research analysts have commented on APO shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Barclays lifted their price objective on shares of Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, Keefe, Bruyette & Woods raised shares of Apollo Global Management to a “hold” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $152.15.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.