Smithbridge Asset Management Inc. DE Sells 4,815 Shares of Apollo Global Management, Inc. (NYSE:APO)

Smithbridge Asset Management Inc. DE cut its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 6.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,821 shares of the financial services provider’s stock after selling 4,815 shares during the quarter. Apollo Global Management comprises 1.8% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 16th biggest holding. Smithbridge Asset Management Inc. DE’s holdings in Apollo Global Management were worth $8,480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter worth about $247,000. Perigon Wealth Management LLC increased its stake in shares of Apollo Global Management by 4.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,727 shares of the financial services provider’s stock valued at $254,000 after purchasing an additional 107 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Apollo Global Management by 6.5% during the fourth quarter. Vontobel Holding Ltd. now owns 37,630 shares of the financial services provider’s stock valued at $3,507,000 after purchasing an additional 2,292 shares during the last quarter. Capital Analysts LLC boosted its position in shares of Apollo Global Management by 150.5% in the 4th quarter. Capital Analysts LLC now owns 774 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 465 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Apollo Global Management by 12.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,486 shares of the financial services provider’s stock worth $15,981,000 after buying an additional 18,404 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards purchased 2,351 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the purchase, the director now directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.50% of the stock is owned by corporate insiders.

Apollo Global Management Stock Performance

Shares of APO stock traded up $0.63 on Friday, reaching $111.00. The stock had a trading volume of 1,950,123 shares, compared to its average volume of 2,536,742. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60. Apollo Global Management, Inc. has a 1 year low of $77.11 and a 1 year high of $126.45. The stock has a market cap of $63.07 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 0.95 and a beta of 1.59. The company has a 50 day simple moving average of $116.33 and a 200 day simple moving average of $113.03.

Apollo Global Management (NYSE:APO) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.03). Apollo Global Management had a return on equity of 17.97% and a net margin of 21.90%. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $873.18 million. During the same period in the previous year, the business posted $1.54 earnings per share. Equities research analysts expect that Apollo Global Management, Inc. will post 7.09 EPS for the current year.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, August 16th. This represents a $1.85 annualized dividend and a yield of 1.67%. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

Wall Street Analysts Forecast Growth

APO has been the subject of a number of recent research reports. UBS Group lifted their price objective on Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Evercore ISI upped their price target on shares of Apollo Global Management from $128.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods increased their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a report on Thursday. Finally, Jefferies Financial Group cut their price target on shares of Apollo Global Management from $119.00 to $117.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $124.62.

About Apollo Global Management

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.