Select Equity Group L.P. Trims Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Select Equity Group L.P. lowered its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,606,481 shares of the financial services provider’s stock after selling 93,253 shares during the quarter. Apollo Global Management comprises approximately 1.2% of Select Equity Group L.P.’s portfolio, making the stock its 29th biggest position. Select Equity Group L.P. owned 0.46% of Apollo Global Management worth $307,747,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC bought a new position in shares of Apollo Global Management in the 4th quarter worth about $33,000. Cullen Frost Bankers Inc. bought a new position in shares of Apollo Global Management during the second quarter valued at approximately $35,000. Carolinas Wealth Consulting LLC purchased a new position in shares of Apollo Global Management during the fourth quarter valued at approximately $38,000. J.Safra Asset Management Corp boosted its position in shares of Apollo Global Management by 709.3% in the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 305 shares in the last quarter. Finally, Riverview Trust Co purchased a new stake in shares of Apollo Global Management in the 1st quarter worth approximately $45,000. Institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on APO shares. Redburn Atlantic began coverage on Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective for the company. UBS Group lifted their price target on Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. TD Cowen raised their price objective on shares of Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and decreased their target price 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 fourteen have issued a buy rating to the company. According to data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and an average price target of $129.65.

Insider Activity at Apollo Global Management

In related news, Director Pauline Richards purchased 2,351 shares of Apollo Global Management stock in a transaction 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 completion of the transaction, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 8.50% of the stock is owned by company insiders.

Apollo Global Management Stock Up 0.7 %

Apollo Global Management stock opened at $125.44 on Friday. The stock has a market cap of $71.27 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a fifty day moving average of $113.88 and a 200 day moving average of $114.10. Apollo Global Management, Inc. has a one year low of $77.11 and a one year high of $126.93.

Apollo Global Management (NYSE:APO) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (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 the consensus estimate 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 quarter last year, the firm posted $1.54 earnings per share. As a group, sell-side analysts predict that Apollo Global Management, Inc. will post 6.62 EPS for the current 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. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.47%. Apollo Global Management’s dividend payout ratio is currently 20.49%.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.