Private Advisor Group LLC Sells 696 Shares of Apollo Global Management, LLC (NYSE:APO)

Private Advisor Group LLC decreased its holdings in Apollo Global Management, LLC (NYSE:APO) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,066 shares of the financial services provider’s stock after selling 696 shares during the period. Private Advisor Group LLC’s holdings in Apollo Global Management were worth $2,288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in APO. Russell Investments Group Ltd. increased its stake in Apollo Global Management by 2.2% in the first quarter. Russell Investments Group Ltd. now owns 225,314 shares of the financial services provider’s stock worth $5,474,000 after purchasing an additional 4,901 shares during the period. Wells Fargo & Company MN increased its stake in Apollo Global Management by 29.7% in the first quarter. Wells Fargo & Company MN now owns 337,841 shares of the financial services provider’s stock worth $8,217,000 after purchasing an additional 77,348 shares during the period. Suntrust Banks Inc. purchased a new stake in Apollo Global Management in the first quarter worth $1,049,000. Wedbush Securities Inc. purchased a new stake in Apollo Global Management in the first quarter worth $214,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Apollo Global Management during the 1st quarter worth $234,000. Institutional investors and hedge funds own 73.58% of the company’s stock.

Shares of Apollo Global Management, LLC (NYSE:APO) opened at 31.05 on Friday. The company’s 50-day moving average price is $29.25 and its 200-day moving average price is $26.92. The company has a market cap of $6.02 billion, a P/E ratio of 12.16 and a beta of 1.22. Apollo Global Management, LLC has a 12 month low of $17.38 and a 12 month high of $31.07.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.04). The business had revenue of $432.87 million for the quarter, compared to analyst estimates of $455.29 million. Apollo Global Management had a return on equity of 59.61% and a net margin of 21.79%. The business’s quarterly revenue was down 34.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Equities analysts forecast that Apollo Global Management, LLC will post $2.45 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd were issued a dividend of $0.52 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, August 18th. This represents a $2.08 annualized dividend and a yield of 6.70%. Apollo Global Management’s payout ratio is presently 81.25%.

In related news, major shareholder Tiger Global Management Llc purchased 249,968 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were bought at an average price of $27.68 per share, with a total value of $6,919,114.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert K. Kraft purchased 30,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was bought at an average cost of $28.88 per share, for a total transaction of $866,400.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 1,399,918 shares of company stock worth $39,210,819. 4.11% of the stock is owned by corporate insiders.

A number of research firms have recently issued reports on APO. Morgan Stanley increased their price target on Apollo Global Management from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 8th. JMP Securities reissued an “outperform” rating and set a $32.00 price target on shares of Apollo Global Management in a research report on Friday, August 4th. UBS AG reissued a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Apollo Global Management in a research report on Friday, August 4th. Deutsche Bank AG increased their price target on Apollo Global Management from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Apollo Global Management in a research report on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $28.90.

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Apollo Global Management Profile

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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