Janney Montgomery Scott LLC Has $27.35 Million Position in Apollo Global Management, Inc. (NYSE:APO)

Janney Montgomery Scott LLC cut its stake in Apollo Global Management, Inc. (NYSE:APO) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,223 shares of the financial services provider’s stock after selling 10,355 shares during the period. Janney Montgomery Scott LLC’s holdings in Apollo Global Management were worth $27,350,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of APO. CWA Asset Management Group LLC raised its position in Apollo Global Management by 2.8% in the fourth quarter. CWA Asset Management Group LLC now owns 3,399 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 94 shares during the last quarter. Zhang Financial LLC increased its stake in shares of Apollo Global Management by 0.6% in the first quarter. Zhang Financial LLC now owns 17,724 shares of the financial services provider’s stock valued at $1,993,000 after buying an additional 97 shares during the period. Lindbrook Capital LLC raised its holdings in Apollo Global Management by 8.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,308 shares of the financial services provider’s stock valued at $147,000 after buying an additional 102 shares during the last quarter. Valley National Advisers Inc. boosted its position in Apollo Global Management by 0.9% during the 1st quarter. Valley National Advisers Inc. now owns 11,519 shares of the financial services provider’s stock worth $1,295,000 after buying an additional 104 shares during the period. Finally, Perigon Wealth Management LLC grew its holdings in Apollo Global Management by 4.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,727 shares of the financial services provider’s stock worth $254,000 after acquiring an additional 107 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on APO. Barclays dropped their price target on shares of Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Evercore ISI lifted their target price on Apollo Global Management from $120.00 to $128.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. JMP Securities reissued a “market perform” rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.62.

Apollo Global Management Stock Down 0.9 %

NYSE:APO traded down $1.06 during trading hours on Friday, reaching $118.74. The company had a trading volume of 1,596,287 shares, compared to its average volume of 2,849,557. Apollo Global Management, Inc. has a twelve month low of $73.77 and a twelve month high of $120.80. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. The firm has a market cap of $67.46 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 0.99 and a beta of 1.59. The business’s 50-day simple moving average is $115.06 and its two-hundred day simple moving average is $108.78.

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 analysts’ consensus estimates of $1.71 by ($0.21). Apollo Global Management had a return on equity of 19.12% and a net margin of 16.27%. The company had revenue of $839.00 million for the quarter, compared to the consensus estimate of $827.33 million. On average, equities analysts expect that Apollo Global Management, Inc. will post 7.14 earnings per share for the current year.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a dividend of $0.463 per share. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.56%. Apollo Global Management’s payout ratio is currently 20.49%.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 30,000 shares of Apollo Global Management stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total value 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 SEC, which is accessible through the SEC website. 8.50% of the stock is owned by insiders.

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.