Incline Global Management LLC Trims Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Incline Global Management LLC lessened its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 29.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 132,849 shares of the financial services provider’s stock after selling 56,410 shares during the quarter. Apollo Global Management comprises about 4.7% of Incline Global Management LLC’s holdings, making the stock its 11th biggest holding. Incline Global Management LLC’s holdings in Apollo Global Management were worth $14,939,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of APO. Norges Bank purchased a new stake in shares of Apollo Global Management during the 4th quarter worth approximately $586,016,000. TD Asset Management Inc lifted its position 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 worth $229,176,000 after buying an additional 2,402,686 shares during the last quarter. Capital Research Global Investors increased its holdings 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 acquiring an additional 1,360,525 shares during the period. Third Point LLC acquired a new position in shares of Apollo Global Management in the 4th quarter valued at $83,871,000. Finally, Vanguard Group Inc. increased its holdings in shares of Apollo Global Management by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock valued at $3,824,342,000 after acquiring an additional 750,781 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 30,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total transaction of $3,338,700.00. Following the transaction, the chief financial officer now directly owns 359,445 shares of the company’s stock, valued at approximately $40,002,634.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

APO traded up $0.55 during trading on Tuesday, hitting $122.61. The stock had a trading volume of 2,200,929 shares, compared to its average volume of 2,361,394. 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, Inc. has a twelve month low of $77.11 and a twelve month high of $125.31. The firm has a market capitalization of $69.66 billion, a P/E ratio of 13.58, a PEG ratio of 1.00 and a beta of 1.59. The company’s 50-day moving average price is $118.28 and its 200 day moving average price is $112.29.

Apollo Global Management (NYSE:APO) last posted its quarterly 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 return on equity of 19.12% and a net margin of 16.27%. The company had revenue of $839.00 million for the quarter, compared to analyst estimates of $827.33 million. On average, equities research analysts forecast that Apollo Global Management, Inc. will post 7.09 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were paid a dividend of $0.463 per share. The ex-dividend date was Thursday, May 16th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.51%. Apollo Global Management’s dividend payout ratio is 20.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on APO. Barclays cut their target price on shares of Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. TD Cowen lifted their target price on shares of Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a report on Monday, July 8th. StockNews.com raised shares of Apollo Global Management from a “sell” rating to a “hold” rating in a report on Monday. Keefe, Bruyette & Woods lifted their target price 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. Finally, Jefferies Financial Group cut their target price on shares of Apollo Global Management from $119.00 to $117.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $119.29.

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.