Apollo Global Management, Inc. (NYSE:APO) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC reduced its holdings in Apollo Global Management, Inc. (NYSE:APO) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,883,601 shares of the financial services provider’s stock after selling 20,611 shares during the quarter. William Blair Investment Management LLC owned 0.33% of Apollo Global Management worth $222,397,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. DSM Capital Partners LLC bought a new position in shares of Apollo Global Management in the fourth quarter valued at $31,000. True Wealth Design LLC acquired a new position in shares of Apollo Global Management in the 4th quarter valued at $33,000. Cullen Frost Bankers Inc. acquired a new position in shares of Apollo Global Management in the 2nd quarter valued at $35,000. Carolinas Wealth Consulting LLC purchased a new position in Apollo Global Management in the 4th quarter worth about $38,000. Finally, J.Safra Asset Management Corp raised its holdings in Apollo Global Management by 709.3% during the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after buying an additional 305 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apollo Global Management

In other news, Director Pauline Richards acquired 2,351 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average cost of $104.92 per share, with a total value of $246,666.92. Following the acquisition, the director now owns 85,854 shares in the company, valued at $9,007,801.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Up 1.8 %

Apollo Global Management stock opened at $114.43 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. Apollo Global Management, Inc. has a 1-year low of $77.11 and a 1-year high of $126.45. The firm’s fifty day simple moving average is $113.54 and its 200-day simple moving average is $113.37. The company has a market capitalization of $65.17 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.13 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.03). The company 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 business earned $1.54 earnings per share. Sell-side analysts forecast that Apollo Global Management, Inc. will post 6.62 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. Shareholders of record on Friday, August 16th were given a dividend of $0.4625 per share. 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 1.62%. Apollo Global Management’s payout ratio is currently 20.49%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. TD Cowen lifted their target price on shares of Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Wells Fargo & Company started coverage on shares of Apollo Global Management in a research note on Thursday. They issued an “overweight” rating and a $132.00 price objective for the company. 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 on the stock. UBS Group raised their target price 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. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.06.

About Apollo Global Management

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.