U S Global Investors Inc. Trims Stake in Apollo Global Management, Inc. (NYSE:APO)

U S Global Investors Inc. decreased its holdings in Apollo Global Management, Inc. (NYSE:APO) by 52.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,100 shares of the financial services provider’s stock after selling 7,900 shares during the quarter. U S Global Investors Inc.’s holdings in Apollo Global Management were worth $887,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Western Financial Corp CA grew its stake in shares of Apollo Global Management by 4.1% during the 3rd quarter. Western Financial Corp CA now owns 16,344 shares of the financial services provider’s stock worth $2,042,000 after purchasing an additional 642 shares during the period. Border to Coast Pensions Partnership Ltd acquired a new position in shares of Apollo Global Management during the 3rd quarter worth $2,180,000. Cyndeo Wealth Partners LLC grew its stake in Apollo Global Management by 3.0% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,687 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 77 shares during the last quarter. Chicago Capital LLC grew its stake in Apollo Global Management by 1.2% in the 3rd quarter. Chicago Capital LLC now owns 5,675 shares of the financial services provider’s stock valued at $709,000 after acquiring an additional 69 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Apollo Global Management by 230.7% during the 3rd quarter. Blue Trust Inc. now owns 3,208 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 2,238 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on APO shares. The Goldman Sachs Group raised their price target on shares of Apollo Global Management from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. TD Cowen increased their price objective on shares of Apollo Global Management from $135.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. raised their price target on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Redburn Atlantic began coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective for the company. Finally, Barclays increased their price objective on shares of Apollo Global Management from $128.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average price target of $138.06.

Apollo Global Management Price Performance

Apollo Global Management stock traded down $0.91 during midday trading on Tuesday, hitting $143.85. The company’s stock had a trading volume of 136,057 shares, compared to its average volume of 2,587,198. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average price is $120.81 and its 200-day moving average price is $116.92. Apollo Global Management, Inc. has a 12 month low of $77.11 and a 12 month high of $146.82. The company has a market capitalization of $81.73 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62.

Apollo Global Management (NYSE:APO) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same quarter last year, the firm posted $1.54 earnings per share. Analysts anticipate that Apollo Global Management, Inc. will post 6.66 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.29%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s payout ratio is presently 20.49%.

Insider Activity at Apollo Global Management

In related news, Director Pauline Richards purchased 2,351 shares of the stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the acquisition, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. This trade represents a 0.00 % increase in their position. The purchase 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 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.