Apollo Global Management, Inc. (NYSE:APO) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. cut its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,526 shares of the financial services provider’s stock after selling 1,459 shares during the period. Royal London Asset Management Ltd.’s holdings in Apollo Global Management were worth $34,184,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Apollo Global Management by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock valued at $3,824,342,000 after purchasing an additional 750,781 shares during the period. Capital International Investors lifted its position in Apollo Global Management by 2.1% in the fourth quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock valued at $1,004,161,000 after buying an additional 218,566 shares during the last quarter. Norges Bank acquired a new position in Apollo Global Management in the fourth quarter valued at about $586,016,000. Putnam Investments LLC boosted its stake in Apollo Global Management by 2.8% during the fourth quarter. Putnam Investments LLC now owns 5,939,220 shares of the financial services provider’s stock worth $553,476,000 after buying an additional 164,400 shares during the period. Finally, Capital Research Global Investors increased its position in shares of Apollo Global Management by 40.3% during the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after acquiring an additional 1,360,525 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on APO. Bank of America upgraded shares of Apollo Global Management from a “neutral” rating to a “buy” rating and dropped their target price for the company from $124.00 to $123.00 in a report on Tuesday, August 6th. Evercore ISI upped their target price 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 raised their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft lowered 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 research note on Thursday, August 15th. Finally, Barclays cut their price target on Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and an average target price of $128.19.

Insider Buying and Selling at Apollo Global Management

In other news, Director Pauline Richards purchased 2,351 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $104.92 per share, with a total value 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 approximately $9,007,801.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is currently owned by corporate insiders.

Apollo Global Management Trading Down 0.8 %

Shares of Apollo Global Management stock opened at $106.74 on Wednesday. The company’s fifty day moving average is $114.00 and its two-hundred day moving average is $113.39. Apollo Global Management, Inc. has a 1 year low of $77.11 and a 1 year high of $126.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $60.79 billion, a P/E ratio of 11.82, a PEG ratio of 1.11 and a beta of 1.62.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $873.18 million. During the same period in the previous year, the business posted $1.54 earnings per share. Analysts forecast that Apollo Global Management, Inc. will post 6.68 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s dividend payout ratio 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.