Gamco Investors INC. ET AL Cuts Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Gamco Investors INC. ET AL reduced its stake in Apollo Global Management, Inc. (NYSE:APO) by 11.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,800 shares of the financial services provider’s stock after selling 775 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Apollo Global Management were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of APO. CWA Asset Management Group LLC lifted its holdings in shares of Apollo Global Management by 2.8% during the 4th quarter. CWA Asset Management Group LLC now owns 3,399 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 94 shares during the last quarter. Zhang Financial LLC lifted its stake in Apollo Global Management by 0.6% during the first quarter. Zhang Financial LLC now owns 17,724 shares of the financial services provider’s stock worth $1,993,000 after purchasing an additional 97 shares during the last quarter. Orion Capital Management LLC boosted its holdings in shares of Apollo Global Management by 20.0% in the 1st quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 100 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Apollo Global Management by 8.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,308 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 102 shares during the last quarter. Finally, Valley National Advisers Inc. raised its holdings in shares of 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 valued at $1,295,000 after buying an additional 104 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on APO. JPMorgan Chase & Co. increased their price target 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. JMP Securities reiterated a “market perform” rating on shares of Apollo Global Management in a research report on Tuesday, April 9th. Barclays cut 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 report on Friday, May 3rd. Keefe, Bruyette & Woods raised their price objective on Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. Finally, UBS Group boosted their target price on Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and an average price target of $119.29.

Apollo Global Management Trading Up 0.4 %

NYSE:APO traded up $0.50 during trading hours 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. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a 50-day moving average price of $117.94 and a 200 day moving average price of $111.80. The company has a market capitalization of $69.41 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.00 and a beta of 1.59. Apollo Global Management, Inc. has a 52 week low of $77.11 and a 52 week high of $125.31.

Apollo Global Management (NYSE:APO) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.21). Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. The company had revenue of $839.00 million for the quarter, compared to the consensus estimate of $827.33 million. On average, equities research analysts predict that Apollo Global Management, Inc. will post 7.09 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.52%. Apollo Global Management’s dividend payout ratio is 20.49%.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 30,000 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 359,445 shares of the company’s stock, valued at $40,002,634.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

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.