Mcdonald Partners LLC Has $916,000 Position in Apollo Global Management, Inc. (NYSE:APO)

Mcdonald Partners LLC reduced its stake in Apollo Global Management, Inc. (NYSE:APO) by 2.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 8,145 shares of the financial services provider’s stock after selling 200 shares during the period. Mcdonald Partners LLC’s holdings in Apollo Global Management were worth $916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Apollo Global Management in the fourth quarter valued at about $586,016,000. TD Asset Management Inc grew its stake in shares of Apollo Global Management by 4,248.9% in the fourth quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock valued at $229,176,000 after acquiring an additional 2,402,686 shares in the last quarter. PointState Capital LP acquired a new position in shares of Apollo Global Management in the third quarter valued at about $98,382,000. Third Point LLC acquired a new position in shares of Apollo Global Management in the fourth quarter valued at about $83,871,000. Finally, Westfield Capital Management Co. LP bought a new stake in Apollo Global Management during the third quarter worth about $73,840,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on APO shares. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. JMP Securities reaffirmed a “market perform” rating on shares of Apollo Global Management in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods upped their price objective on shares of Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Evercore ISI upped their price objective on shares of Apollo Global Management from $120.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, BMO Capital Markets upped their price objective on shares of Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus price target of $115.62.

Apollo Global Management Trading Down 0.3 %

Shares of Apollo Global Management stock traded down $0.34 on Wednesday, hitting $118.13. The stock had a trading volume of 1,735,944 shares, compared to its average volume of 2,330,837. The stock has a 50 day moving average of $113.92 and a 200 day moving average of $107.62. Apollo Global Management, Inc. has a twelve month low of $73.49 and a twelve month high of $119.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market capitalization of $67.12 billion, a P/E ratio of 13.08, a PEG ratio of 0.98 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.21). Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. The firm had revenue of $839.00 million during the quarter, compared to analyst estimates of $827.33 million. Sell-side analysts expect that Apollo Global Management, Inc. will post 7.14 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Thursday, May 16th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s dividend payout ratio is currently 20.49%.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the completion of the sale, the chief financial officer now owns 359,445 shares of the company’s stock, valued at approximately $40,002,634.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.50% of the company’s stock.

Apollo Global Management Company Profile

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.