Tanager Wealth Management LLP Sells 125 Shares of Apollo Global Management Inc. $APO

Tanager Wealth Management LLP lowered its position in shares of Apollo Global Management Inc. (NYSE:APO) by 7.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,599 shares of the financial services provider’s stock after selling 125 shares during the quarter. Tanager Wealth Management LLP’s holdings in Apollo Global Management were worth $227,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Apollo Global Management by 1.4% during the first quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider’s stock worth $75,347,000 after acquiring an additional 7,441 shares during the last quarter. Clearview Wealth Advisors LLC raised its position in shares of Apollo Global Management by 420.7% during the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider’s stock worth $2,952,000 after acquiring an additional 17,418 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of Apollo Global Management during the first quarter worth $871,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Apollo Global Management during the first quarter worth $492,000. Finally, True North Advisors LLC bought a new stake in shares of Apollo Global Management during the first quarter worth $2,097,000. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 2.4%

NYSE:APO opened at $130.05 on Thursday. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year 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. The stock has a market cap of $74.39 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 1.43 and a beta of 1.68. The stock has a 50-day moving average price of $139.35 and a two-hundred day moving average price of $137.19.

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

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management’s dividend payout ratio is currently 38.13%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citigroup lifted their price objective on Apollo Global Management from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 10th. Evercore ISI lifted their price objective on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Wells Fargo & Company lifted their price objective on Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Barclays lifted their price objective on Apollo Global Management from $156.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, Wall Street Zen raised Apollo Global Management from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $167.93.

Insider Transactions at Apollo Global Management

In other news, insider Whitney Chatterjee sold 4,500 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the transaction, the insider directly owned 83,192 shares of the company’s stock, valued at $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the transaction, the chief financial officer directly owned 332,399 shares of the company’s stock, valued at $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 935,000 shares of company stock valued at $125,543,790 over the last three months. Company insiders own 8.20% of the company’s stock.

Apollo Global Management 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.