Apollo Global Management, Inc. (NYSE:APO) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC trimmed its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,929 shares of the financial services provider’s stock after selling 641 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Apollo Global Management were worth $2,471,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of APO. Vanguard Group Inc. grew its position in shares of Apollo Global Management by 1.9% during the fourth 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 in the last quarter. Capital International Investors lifted its stake 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 worth $1,004,161,000 after acquiring an additional 218,566 shares during the last quarter. Putnam Investments LLC grew its holdings in Apollo Global Management by 2.8% during the 4th quarter. Putnam Investments LLC now owns 5,939,220 shares of the financial services provider’s stock worth $553,476,000 after acquiring an additional 164,400 shares in the last quarter. Capital Research Global Investors increased its position in shares of 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 purchasing an additional 1,360,525 shares during the last quarter. Finally, TD Asset Management Inc increased its position in shares of Apollo Global Management by 3.8% in the 2nd quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock valued at $318,522,000 after purchasing an additional 97,797 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling

In other Apollo Global Management news, Director Pauline Richards acquired 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 acquisition, the director now owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

Apollo Global Management Stock Up 0.5 %

APO opened at $117.76 on Wednesday. Apollo Global Management, Inc. has a 52 week low of $77.11 and a 52 week high of $126.45. The business has a 50 day moving average price of $113.56 and a two-hundred day moving average price of $113.44. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The company has a market cap of $66.91 billion, a PE ratio of 13.04, a P/E/G ratio of 1.13 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.03). The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same period in the prior year, the business earned $1.54 earnings per share. As a group, research analysts anticipate that Apollo Global Management, Inc. will post 6.62 EPS for the current year.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.57%. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

Analyst Upgrades and Downgrades

APO has been the topic of a number of analyst reports. Argus cut their price target on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Redburn Partners assumed coverage on Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target for the company. TD Cowen raised their price objective on shares of Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Finally, UBS Group boosted their price objective on shares of Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. One equities 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’s stock. According to MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $129.06.

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.