Marcum Wealth LLC Sells 131 Shares of Apollo Global Management, Inc. (NYSE:APO)

Marcum Wealth LLC trimmed its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 5.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,352 shares of the financial services provider’s stock after selling 131 shares during the period. Marcum Wealth LLC’s holdings in Apollo Global Management were worth $278,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APO. Norges Bank purchased a new position in shares of Apollo Global Management in the 4th quarter worth $586,016,000. TD Asset Management Inc grew its stake in shares of Apollo Global Management by 4,248.9% during the 4th quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock valued at $229,176,000 after purchasing an additional 2,402,686 shares during the period. Capital Research Global Investors lifted its stake 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 worth $532,852,000 after purchasing an additional 1,360,525 shares during the period. Third Point LLC purchased a new position in shares of Apollo Global Management in the fourth quarter worth approximately $83,871,000. Finally, Vanguard Group Inc. grew its position in 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 valued at $3,824,342,000 after buying an additional 750,781 shares during the period. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on APO. StockNews.com upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. TD Cowen lifted their price objective on Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Barclays decreased their target price on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. raised their price objective on shares of Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. Finally, UBS Group upped their target price on shares of Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.77.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 30,000 shares of Apollo Global Management stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the completion of the sale, the chief financial officer now directly owns 359,445 shares in the company, valued at $40,002,634.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.50% of the stock is owned by corporate insiders.

Apollo Global Management Price Performance

Shares of APO traded down $4.38 during mid-day trading on Monday, hitting $99.15. 6,618,616 shares of the stock were exchanged, compared to its average volume of 2,484,865. Apollo Global Management, Inc. has a 52-week low of $77.11 and a 52-week high of $126.45. The company has a market cap of $56.33 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 0.95 and a beta of 1.59. The firm has a 50-day moving average of $118.00 and a two-hundred day moving average of $112.71. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 1.60.

Apollo Global Management (NYSE:APO) last released 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). Apollo Global Management had a net margin of 21.90% and a return on equity of 17.97%. The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $873.18 million. During the same quarter in the previous year, the company posted $1.54 EPS. On average, equities analysts predict that Apollo Global Management, Inc. will post 7.09 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.87%. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

Apollo Global Management 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.