Apollo Global Management, Inc. (NYSE:APO) Position Lowered by Iron Horse Wealth Management LLC

Iron Horse Wealth Management LLC reduced its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 5.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,871 shares of the financial services provider’s stock after selling 113 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in Apollo Global Management were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Compagnie Lombard Odier SCmA bought a new stake in Apollo Global Management during the 3rd quarter valued at $35,000. Cullen Frost Bankers Inc. bought a new stake in shares of Apollo Global Management during the second quarter valued at about $35,000. J.Safra Asset Management Corp lifted its holdings in Apollo Global Management by 709.3% in 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 during the period. Riverview Trust Co bought a new position in Apollo Global Management in the 1st quarter valued at about $45,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in Apollo Global Management by 293.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after buying an additional 346 shares during the period. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

APO stock traded down $0.67 during midday trading on Wednesday, hitting $143.27. 446,599 shares of the company traded hands, compared to its average volume of 2,585,491. The business has a 50 day simple moving average of $122.43 and a 200-day simple moving average of $117.37. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36. Apollo Global Management, Inc. has a twelve month low of $77.11 and a twelve month high of $146.82. The stock has a market capitalization of $81.40 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data 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 firm 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 in the prior year, the firm posted $1.54 earnings per share. As a group, equities research analysts predict that Apollo Global Management, Inc. will post 6.66 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The business also recently disclosed 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 1.29%. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Insider Activity at Apollo Global Management

In related news, Director Pauline Richards bought 2,351 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $104.92 per share, with a total value of $246,666.92. Following the purchase, the director now owns 85,854 shares in the company, valued at approximately $9,007,801.68. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Apollo Global Management from $148.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Barclays lifted their price target on Apollo Global Management from $128.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Keefe, Bruyette & Woods upped their price objective on Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a report on Friday, July 12th. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. Finally, BMO Capital Markets lifted their price objective on shares of Apollo Global Management from $123.00 to $138.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $139.56.

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.