National Asset Management Inc. cut its stake in Apollo Global Management LLC (NYSE:APO) by 16.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,854 shares of the financial services provider’s stock after selling 5,899 shares during the period. National Asset Management Inc.’s holdings in Apollo Global Management were worth $1,034,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Great West Life Assurance Co. Can acquired a new position in shares of Apollo Global Management in the 4th quarter worth approximately $1,361,000. Franklin Resources Inc. acquired a new position in shares of Apollo Global Management in the 4th quarter worth approximately $810,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Apollo Global Management in the 4th quarter worth approximately $28,104,000. Standard Life Aberdeen plc acquired a new stake in Apollo Global Management during the 4th quarter valued at $1,026,000. Finally, EAM Investors LLC increased its holdings in Apollo Global Management by 4.8% during the 4th quarter. EAM Investors LLC now owns 40,449 shares of the financial services provider’s stock valued at $1,930,000 after purchasing an additional 1,860 shares in the last quarter. 68.88% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE APO traded up $0.25 during midday trading on Friday, hitting $45.21. The stock had a trading volume of 1,493,416 shares, compared to its average volume of 2,143,241. The company’s 50-day simple moving average is $39.39 and its 200 day simple moving average is $42.67. The firm has a market cap of $10.29 billion, a P/E ratio of -31.89, a price-to-earnings-growth ratio of 1.42 and a beta of 1.60. Apollo Global Management LLC has a fifty-two week low of $19.46 and a fifty-two week high of $52.67. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.10 and a quick ratio of 1.10.
Apollo Global Management (NYSE:APO) last released its earnings results on Friday, May 1st. The financial services provider reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.11). Apollo Global Management had a net margin of 31.68% and a return on equity of 40.34%. The firm had revenue of $433.57 million during the quarter, compared to analyst estimates of $412.13 million. During the same period last year, the business posted $0.67 earnings per share. Equities analysts expect that Apollo Global Management LLC will post 1.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be given a $0.42 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.72%. Apollo Global Management’s dividend payout ratio is currently 61.99%.
A number of equities research analysts recently weighed in on APO shares. Wells Fargo & Co raised their price target on Apollo Global Management from $44.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Argus reaffirmed a “buy” rating and set a $55.00 price target on shares of Apollo Global Management in a report on Thursday, February 6th. Barclays raised their price target on Apollo Global Management from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Morgan Stanley raised their price target on Apollo Global Management from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Finally, Bank of America reaffirmed a “neutral” rating and set a $43.00 price target (up from $38.00) on shares of Apollo Global Management in a report on Monday, May 4th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $53.38.
In other news, Director Marc J. Rowan sold 286,115 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $41.87, for a total value of $11,979,635.05. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Marc J. Rowan sold 71,198 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $43.35, for a total value of $3,086,433.30. The disclosure for this sale can be found here. Insiders sold a total of 2,289,625 shares of company stock worth $97,809,246 over the last 90 days. 46.90% of the stock is owned by corporate insiders.
Apollo Global Management Company Profile
Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.
Recommended Story: What is the Shanghai Stock Exchange Composite Index?
Want to see what other hedge funds are holding APO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apollo Global Management LLC (NYSE:APO).
Receive News & Ratings for Apollo Global Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Global Management and related companies with MarketBeat.com's FREE daily email newsletter.