Levin Capital Strategies L.P. Lowers Holdings in Apollo Global Management, Inc. (NYSE:APO)

Levin Capital Strategies L.P. decreased its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 25.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,812 shares of the financial services provider’s stock after selling 2,000 shares during the period. Levin Capital Strategies L.P.’s holdings in Apollo Global Management were worth $686,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of APO. Los Angeles Capital Management LLC lifted its position in Apollo Global Management by 112.3% during the first quarter. Los Angeles Capital Management LLC now owns 1,045,422 shares of the financial services provider’s stock valued at $117,558,000 after buying an additional 552,893 shares in the last quarter. Principal Financial Group Inc. increased its stake in Apollo Global Management by 287.5% during the 4th quarter. Principal Financial Group Inc. now owns 307,786 shares of the financial services provider’s stock worth $28,683,000 after buying an additional 228,367 shares during the period. Wells Fargo & Company MN boosted its position in Apollo Global Management by 5.6% in the 4th quarter. Wells Fargo & Company MN now owns 950,731 shares of the financial services provider’s stock valued at $88,599,000 after buying an additional 50,008 shares during the last quarter. CenterBook Partners LP increased its position in shares of Apollo Global Management by 59.9% during the fourth quarter. CenterBook Partners LP now owns 20,739 shares of the financial services provider’s stock worth $1,933,000 after acquiring an additional 7,769 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Apollo Global Management by 49.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 52,576 shares of the financial services provider’s stock worth $4,900,000 after purchasing an additional 17,361 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling

In related news, Director Pauline Richards purchased 2,351 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the transaction, the director now directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $107.58 on Tuesday. Apollo Global Management, Inc. has a twelve month low of $77.11 and a twelve month high of $126.45. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $114.26 and a two-hundred day moving average of $113.42. The company has a market capitalization of $61.27 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.11 and a beta of 1.62.

Apollo Global Management (NYSE:APO) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.64 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.03). The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same period in the prior year, the company earned $1.54 earnings per share. As a group, analysts expect that Apollo Global Management, Inc. will post 6.68 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s payout ratio is 20.49%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Evercore ISI upped their price target on shares of Apollo Global Management from $128.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Redburn Partners started 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. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, August 15th. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and cut their price target for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.19.

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.