Park Avenue Securities LLC Lowers Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Park Avenue Securities LLC reduced its position in shares of Apollo Global Management, Inc. (NYSE:APOGet Rating) by 14.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,687 shares of the financial services provider’s stock after selling 813 shares during the period. Park Avenue Securities LLC’s holdings in Apollo Global Management were worth $218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Apollo Global Management by 87.8% during the first quarter. Vanguard Group Inc. now owns 37,374,072 shares of the financial services provider’s stock worth $2,316,818,000 after buying an additional 17,476,830 shares during the period. State Street Corp boosted its position in shares of Apollo Global Management by 11.2% during the second quarter. State Street Corp now owns 8,935,359 shares of the financial services provider’s stock worth $433,186,000 after buying an additional 902,939 shares during the period. Clearbridge Investments LLC boosted its position in shares of Apollo Global Management by 8.0% during the second quarter. Clearbridge Investments LLC now owns 8,485,353 shares of the financial services provider’s stock worth $411,370,000 after buying an additional 626,230 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Apollo Global Management by 300.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 7,880,195 shares of the financial services provider’s stock worth $382,032,000 after buying an additional 5,912,758 shares during the period. Finally, Mariner LLC purchased a new position in shares of Apollo Global Management during the first quarter worth $353,603,000. 68.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APO has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lowered Apollo Global Management from an “outperform” rating to a “market perform” rating and set a $77.00 target price for the company. in a report on Monday, January 2nd. Credit Suisse Group initiated coverage on Apollo Global Management in a report on Tuesday, October 18th. They issued an “outperform” rating and a $59.50 target price for the company. Morgan Stanley lifted their target price on Apollo Global Management from $60.00 to $69.00 and gave the company an “equal weight” rating in a report on Tuesday. StockNews.com upgraded Apollo Global Management from a “sell” rating to a “hold” rating in a report on Wednesday, January 11th. Finally, Barclays lifted their target price on Apollo Global Management from $78.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, January 12th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.45.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 20,000 shares of Apollo Global Management stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $64.88, for a total transaction of $1,297,600.00. Following the sale, the chief financial officer now owns 431,486 shares in the company, valued at $27,994,811.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.40% of the company’s stock.

Apollo Global Management Stock Down 1.7 %

Apollo Global Management stock opened at $67.70 on Wednesday. Apollo Global Management, Inc. has a 1-year low of $45.62 and a 1-year high of $71.72. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market cap of $38.74 billion, a PE ratio of -12.00, a P/E/G ratio of 0.58 and a beta of 1.72. The stock’s fifty day moving average is $65.05 and its two-hundred day moving average is $58.59.

Apollo Global Management (NYSE:APOGet Rating) last posted its earnings results on Wednesday, November 2nd. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.14. Apollo Global Management had a positive return on equity of 64.38% and a negative net margin of 48.54%. The business had revenue of $670.50 million for the quarter, compared to analysts’ expectations of $621.08 million. On average, sell-side analysts expect that Apollo Global Management, Inc. will post 5 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 30th. Stockholders of record on Thursday, November 17th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Wednesday, November 16th. Apollo Global Management’s dividend payout ratio (DPR) is currently -28.37%.

About Apollo Global Management

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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.

See Also

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

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