Whittier Trust Co. Cuts Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Whittier Trust Co. reduced its position in Apollo Global Management, Inc. (NYSE:APO) by 5.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,532 shares of the financial services provider’s stock after selling 351 shares during the quarter. Whittier Trust Co.’s holdings in Apollo Global Management were worth $771,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Apollo Global Management by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock valued at $3,824,342,000 after acquiring an additional 750,781 shares during the period. Capital International Investors boosted its holdings in Apollo Global Management by 2.1% during the 4th quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock valued at $1,004,161,000 after acquiring an additional 218,566 shares during the period. Norges Bank purchased a new stake in Apollo Global Management during the 4th quarter valued at about $586,016,000. Putnam Investments LLC boosted its holdings in Apollo Global Management by 2.8% during the 4th quarter. Putnam Investments LLC now owns 5,939,220 shares of the financial services provider’s stock valued at $553,476,000 after acquiring an additional 164,400 shares during the period. Finally, Capital Research Global Investors boosted its holdings in Apollo Global Management by 40.3% during the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after acquiring an additional 1,360,525 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on APO. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and lowered their price target for the company from $124.00 to $123.00 in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their price target on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Barclays decreased their target price on Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. UBS Group increased their target price on Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods increased their target price on Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average price target of $128.19.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards bought 2,351 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the purchase, the director now owns 85,854 shares in the company, valued at approximately $9,007,801.68. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Up 0.6 %

APO traded up $0.65 during trading on Thursday, hitting $114.04. 810,339 shares of the company’s stock traded hands, compared to its average volume of 2,486,391. The company’s 50 day simple moving average is $115.38 and its two-hundred day simple moving average is $113.41. 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, Inc. has a 12-month low of $77.11 and a 12-month high of $126.45. The stock has a market capitalization of $64.79 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.95 and a beta of 1.59.

Apollo Global Management (NYSE:APO) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.03). Apollo Global Management had a net margin of 21.90% and a return on equity of 17.97%. The business 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. Analysts predict that Apollo Global Management, Inc. will post 7.09 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, August 16th. This represents a $1.85 annualized dividend and a yield of 1.62%. Apollo Global Management’s dividend payout ratio is 20.49%.

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.