Apollo Global Management, Inc. (NYSE:APO) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 3.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 20,929 shares of the financial services provider’s stock after selling 641 shares during the period. Axxcess Wealth Management LLC’s holdings in Apollo Global Management were worth $2,471,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of APO. CWA Asset Management Group LLC increased its holdings in Apollo Global Management by 2.8% in the 4th quarter. CWA Asset Management Group LLC now owns 3,399 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 94 shares in the last quarter. FineMark National Bank & Trust increased its stake in shares of Apollo Global Management by 2.4% during the second quarter. FineMark National Bank & Trust now owns 4,117 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 98 shares in the last quarter. Orion Capital Management LLC raised its position in shares of Apollo Global Management by 20.0% during the 1st quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 100 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Apollo Global Management by 8.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,308 shares of the financial services provider’s stock valued at $147,000 after buying an additional 102 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its holdings in Apollo Global Management by 0.9% in the 1st quarter. Valley National Advisers Inc. now owns 11,519 shares of the financial services provider’s stock worth $1,295,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $117.76 on Wednesday. The business’s fifty day simple moving average is $113.56 and its 200-day simple moving average is $113.44. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The firm has a market cap of $66.91 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. Apollo Global Management, Inc. has a 52 week low of $77.11 and a 52 week high of $126.45.

Apollo Global Management (NYSE:APO) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. During the same period in the previous year, the company earned $1.54 EPS. Equities analysts forecast that Apollo Global Management, Inc. will post 6.62 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.85 annualized dividend and a yield of 1.57%. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on APO shares. Wells Fargo & Company assumed coverage on Apollo Global Management in a report on Thursday, September 12th. They set an “overweight” rating and a $132.00 target price for the company. Evercore ISI increased their price objective on Apollo Global Management from $128.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. TD Cowen raised their price objective on Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a report on Monday, July 8th. Barclays lowered their price target on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus price target of $129.06.

Insider Activity at Apollo Global Management

In other news, Director Pauline Richards purchased 2,351 shares of the stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the transaction, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 8.50% of the stock is owned by insiders.

Apollo Global Management Company Profile

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.