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

Gabelli Funds LLC reduced its stake in Apollo Global Management, Inc. (NYSE:APO) by 5.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,400 shares of the financial services provider’s stock after selling 2,000 shares during the quarter. Gabelli Funds LLC’s holdings in Apollo Global Management were worth $3,981,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. DSM Capital Partners LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter valued at $31,000. Blue Trust Inc. lifted its position in shares of Apollo Global Management by 151.4% in the fourth quarter. Blue Trust Inc. now owns 367 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 221 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter valued at $33,000. CVA Family Office LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter valued at $34,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in Apollo Global Management in the fourth quarter valued at $36,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Sunday, July 21st. Jefferies Financial Group dropped their target price on Apollo Global Management from $119.00 to $117.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. TD Cowen upped their target price on Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Barclays dropped their target price on 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. Finally, BMO Capital Markets upped their target price on Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.29.

Apollo Global Management Stock Up 0.4 %

Shares of NYSE APO traded up $0.50 on Friday, hitting $122.16. The company had a trading volume of 2,097,681 shares, compared to its average volume of 2,488,286. Apollo Global Management, Inc. has a 12-month low of $77.11 and a 12-month high of $125.31. The business has a 50 day moving average of $117.94 and a two-hundred day moving average of $111.80. 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 capitalization of $69.41 billion, a P/E ratio of 13.53, a PEG ratio of 1.00 and a beta of 1.59.

Apollo Global Management (NYSE:APO) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $827.33 million. As a group, equities research analysts forecast that Apollo Global Management, Inc. will post 7.11 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were issued a $0.463 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.52%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s dividend payout ratio is currently 20.49%.

Insider Activity at Apollo Global Management

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

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.