Fortune Financial Advisors LLC Sells 555 Shares of Apollo Global Management, Inc. (NYSE:APO)

Fortune Financial Advisors LLC decreased its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,176 shares of the financial services provider’s stock after selling 555 shares during the period. Apollo Global Management makes up 2.0% of Fortune Financial Advisors LLC’s portfolio, making the stock its 10th biggest position. Fortune Financial Advisors LLC’s holdings in Apollo Global Management were worth $3,327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Los Angeles Capital Management LLC grew its stake in shares of Apollo Global Management by 112.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 1,045,422 shares of the financial services provider’s stock worth $117,558,000 after purchasing an additional 552,893 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Apollo Global Management by 287.5% in the 4th quarter. Principal Financial Group Inc. now owns 307,786 shares of the financial services provider’s stock worth $28,683,000 after purchasing an additional 228,367 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Apollo Global Management by 5.6% in the 4th quarter. Wells Fargo & Company MN now owns 950,731 shares of the financial services provider’s stock worth $88,599,000 after purchasing an additional 50,008 shares during the last quarter. CenterBook Partners LP grew its stake in shares of Apollo Global Management by 59.9% in the 4th quarter. CenterBook Partners LP now owns 20,739 shares of the financial services provider’s stock worth $1,933,000 after purchasing an additional 7,769 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Apollo Global Management by 49.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 52,576 shares of the financial services provider’s stock worth $4,900,000 after purchasing an additional 17,361 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on APO shares. Redburn Atlantic began coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target for the company. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $124.00 to $123.00 in a research report on Tuesday, August 6th. Redburn Partners initiated coverage on Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Keefe, Bruyette & Woods upped their target price on Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.19.

Insider Activity

In other Apollo Global Management news, Director Pauline Richards purchased 2,351 shares of the stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost of $104.92 per share, with a total value of $246,666.92. Following the completion of the transaction, the director now owns 85,854 shares in the company, valued at approximately $9,007,801.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $108.62 on Thursday. The business’s 50-day simple moving average is $113.77 and its 200-day simple moving average is $113.36. Apollo Global Management, Inc. has a 52 week low of $77.11 and a 52 week high of $126.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $61.71 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.11 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. During the same quarter in the previous year, the firm posted $1.54 earnings per share. As a group, equities research analysts expect that Apollo Global Management, Inc. will post 6.68 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s dividend payout ratio is currently 20.49%.

About Apollo Global Management

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.