Stablepoint Partners LLC Trims Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Stablepoint Partners LLC cut its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 12.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,598 shares of the financial services provider’s stock after selling 1,733 shares during the period. Stablepoint Partners LLC’s holdings in Apollo Global Management were worth $1,574,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of APO. Curated Wealth Partners LLC grew its stake in shares of Apollo Global Management by 200.3% in the 2nd quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after purchasing an additional 4,717,661 shares during the last quarter. Capital Research Global Investors increased its stake in Apollo Global Management by 40.3% in the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after buying an additional 1,360,525 shares during the period. Vanguard Group Inc. raised its position in Apollo Global Management by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock worth $3,824,342,000 after buying an additional 750,781 shares during the last quarter. Jennison Associates LLC raised its position in Apollo Global Management by 199.8% during the 1st quarter. Jennison Associates LLC now owns 925,222 shares of the financial services provider’s stock worth $104,041,000 after buying an additional 616,575 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Apollo Global Management by 112.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 1,045,422 shares of the financial services provider’s stock worth $117,558,000 after acquiring an additional 552,893 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

Shares of NYSE:APO traded up $0.37 on Monday, hitting $140.58. The company had a trading volume of 111,413 shares, compared to its average volume of 2,595,747. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The company has a market cap of $79.87 billion, a PE ratio of 15.53, a PEG ratio of 1.39 and a beta of 1.62. Apollo Global Management, Inc. has a 52-week low of $77.11 and a 52-week high of $141.61. The business has a 50 day moving average of $116.77 and a 200 day moving average of $115.83.

Apollo Global Management (NYSE:APO) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same quarter last year, the company posted $1.54 earnings per share. As a group, equities analysts anticipate that Apollo Global Management, Inc. will post 6.66 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.4625 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.85 annualized dividend and a yield of 1.32%. Apollo Global Management’s payout ratio is currently 20.49%.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of the firm’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 completion of the acquisition, the director now directly owns 85,854 shares of the company’s stock, valued at $9,007,801.68. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Redburn Atlantic initiated coverage on shares of Apollo Global Management in a report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target for the company. Morgan Stanley increased their target price on Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday. Evercore ISI lifted their price target on Apollo Global Management from $127.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. TD Cowen increased their price objective on Apollo Global Management from $135.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Argus decreased their target price on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.06.

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.