Apollo Global Management, Inc. (NYSE:APO) Position Reduced by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. reduced its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.8% in the second quarter, HoldingsChannel.com reports. The firm owned 156,100 shares of the financial services provider’s stock after selling 4,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Apollo Global Management were worth $18,431,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. DSM Capital Partners LLC bought a new position in Apollo Global Management during the fourth quarter valued at about $31,000. J.Safra Asset Management Corp grew its stake in shares of Apollo Global Management by 709.3% in the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 305 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of Apollo Global Management in the 4th quarter worth approximately $33,000. Vestmark Advisory Solutions Inc. bought a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $36,000. Finally, Riverview Trust Co acquired a new stake in Apollo Global Management during the first quarter valued at approximately $45,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Stock Up 2.8 %

APO stock traded up $3.04 during midday trading on Friday, reaching $111.51. The company had a trading volume of 1,874,533 shares, compared to its average volume of 2,510,865. The company has a 50 day moving average of $115.62 and a two-hundred day moving average of $113.30. The company has a market capitalization of $63.36 billion, a P/E ratio of 12.35, 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 company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings data 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). Apollo Global Management had a return on equity of 17.97% and a net margin of 21.90%. The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $873.18 million. During the same quarter in the prior year, the business posted $1.54 earnings per share. On average, equities research analysts expect that Apollo Global Management, Inc. will post 7.09 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, August 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.66%. Apollo Global Management’s dividend payout ratio is 20.49%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on APO shares. Evercore ISI lifted their price target on shares of Apollo Global Management from $128.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Argus cut their target price on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. TD Cowen increased their price target on Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Jefferies Financial Group dropped their price target on Apollo Global Management from $119.00 to $117.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. Finally, Keefe, Bruyette & Woods upped 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 note on Friday, July 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $124.64.

Insider Activity at Apollo Global Management

In other news, Director Pauline Richards acquired 2,351 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the acquisition, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by company insiders.

About Apollo Global Management

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.