NewEdge Advisors LLC Cuts Holdings in Apollo Global Management, Inc. (NYSE:APO)

NewEdge Advisors LLC decreased its position in Apollo Global Management, Inc. (NYSE:APO) by 25.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,317 shares of the financial services provider’s stock after selling 9,528 shares during the period. NewEdge Advisors LLC’s holdings in Apollo Global Management were worth $3,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APO. True Wealth Design LLC purchased a new position in Apollo Global Management in the fourth quarter valued at $33,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Apollo Global Management during the second quarter worth about $35,000. J.Safra Asset Management Corp increased its stake in shares of Apollo Global Management by 709.3% during the first 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. Riverview Trust Co purchased a new stake in shares of Apollo Global Management during the first quarter worth about $45,000. Finally, Compass Wealth Management LLC increased its stake in shares of Apollo Global Management by 48.7% during the first quarter. Compass Wealth Management LLC now owns 446 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling

In other Apollo Global Management news, Director Pauline Richards bought 2,351 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average cost of $104.92 per share, with a total value of $246,666.92. Following the purchase, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on APO. Redburn Partners began coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wolfe Research assumed coverage on shares of Apollo Global Management in a research report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Apollo Global Management from $132.00 to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Redburn Atlantic assumed coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.76.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $132.70 on Thursday. The company’s 50 day simple moving average is $114.37 and its 200-day simple moving average is $114.66. The company has a market capitalization of $75.39 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.30 and a beta of 1.61. Apollo Global Management, Inc. has a 1 year low of $77.11 and a 1 year high of $135.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations 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 last year, the firm posted $1.54 earnings per share. As a group, equities research analysts expect that Apollo Global Management, Inc. will post 6.62 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s payout ratio is currently 20.49%.

Apollo Global Management Company 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.