Bank of New York Mellon Corp Sells 31,510 Shares of Apollo Global Management, Inc. (NYSE:APO)

Bank of New York Mellon Corp lessened its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 1.6% in the second quarter, HoldingsChannel.com reports. The firm owned 1,948,821 shares of the financial services provider’s stock after selling 31,510 shares during the period. Bank of New York Mellon Corp’s holdings in Apollo Global Management were worth $230,097,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of APO. DSM Capital Partners LLC bought a new position in Apollo Global Management during the fourth quarter valued at about $31,000. J.Safra Asset Management Corp grew its holdings in shares of Apollo Global Management by 709.3% during the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 305 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of Apollo Global Management during the fourth quarter worth about $33,000. Vestmark Advisory Solutions Inc. purchased a new stake in Apollo Global Management in the fourth quarter worth approximately $36,000. Finally, Riverview Trust Co purchased a new stake in Apollo Global Management in the first quarter worth approximately $45,000. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. TD Cowen upped their target price on Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Evercore ISI boosted their price objective on Apollo Global Management from $128.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Jefferies Financial Group lowered their price objective on Apollo Global Management from $119.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Argus lowered their price objective on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and an average price target of $124.64.

Insider Activity at Apollo Global Management

In other news, Director Pauline Richards bought 2,351 shares of the stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $104.92 per share, with a total value of $246,666.92. Following the completion of the acquisition, the director now owns 85,854 shares in the company, valued at $9,007,801.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Stock Up 0.3 %

Shares of NYSE APO traded up $0.38 during trading on Monday, reaching $111.89. The company had a trading volume of 1,315,817 shares, compared to its average volume of 2,503,587. Apollo Global Management, Inc. has a 12-month low of $77.11 and a 12-month high of $126.45. The stock has a market cap of $63.57 billion, a PE ratio of 12.35, a P/E/G ratio of 0.95 and a beta of 1.59. The business’s 50-day moving average is $115.62 and its 200 day moving average is $113.35. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $873.18 million. During the same period in the prior year, the company posted $1.54 earnings per share. As a group, equities analysts forecast that Apollo Global Management, Inc. will post 7.09 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently disclosed 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 dividend yield of 1.65%. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

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.