Apollo Global Management Inc. $APO Shares Sold by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. decreased its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 43.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,763 shares of the financial services provider’s stock after selling 1,373 shares during the period. Whalen Wealth Management Inc.’s holdings in Apollo Global Management were worth $250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of APO. Boston Partners acquired a new position in Apollo Global Management during the first quarter worth approximately $370,543,000. Nuveen LLC acquired a new position in Apollo Global Management during the first quarter worth approximately $342,335,000. Vanguard Group Inc. increased its position in Apollo Global Management by 2.0% during the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock worth $6,303,186,000 after purchasing an additional 893,428 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Apollo Global Management by 24.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock worth $490,482,000 after purchasing an additional 706,181 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Apollo Global Management by 33.0% during the first quarter. Alliancebernstein L.P. now owns 2,473,614 shares of the financial services provider’s stock worth $338,737,000 after purchasing an additional 613,124 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider directly owned 83,192 shares of the company’s stock, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Leon D. Black sold 915,000 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the transaction, the insider owned 4,526,000 shares in the company, valued at $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 935,000 shares of company stock valued at $125,543,790. Corporate insiders own 8.20% of the company’s stock.

Apollo Global Management Price Performance

APO opened at $124.83 on Thursday. The company has a fifty day simple moving average of $131.90 and a 200 day simple moving average of $136.16. The firm has a market cap of $71.40 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 1.42 and a beta of 1.68. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same period last year, the business earned $1.64 EPS. Equities research analysts expect that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 38.13%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on APO. Barclays dropped their price target on shares of Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Citigroup dropped their price objective on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Wells Fargo & Company increased their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Finally, BMO Capital Markets initiated coverage on shares of Apollo Global Management in a research report on Friday, October 3rd. They issued a “market perform” rating and a $132.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $162.57.

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.