Wedmont Private Capital Decreases Holdings in Apollo Global Management, Inc. (NYSE:APO)

Wedmont Private Capital cut its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,931 shares of the financial services provider’s stock after selling 193 shares during the period. Wedmont Private Capital’s holdings in Apollo Global Management were worth $662,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC grew its position in shares of Apollo Global Management by 112.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 1,045,422 shares of the financial services provider’s stock valued at $117,558,000 after acquiring an additional 552,893 shares during the period. Empowered Funds LLC grew its position in shares of Apollo Global Management by 193.3% during the 1st quarter. Empowered Funds LLC now owns 51,181 shares of the financial services provider’s stock valued at $5,755,000 after acquiring an additional 33,731 shares during the period. Diversified Trust Co bought a new stake in shares of Apollo Global Management during the 1st quarter valued at $1,731,000. Jennison Associates LLC grew its position in shares of Apollo Global Management by 199.8% during the 1st quarter. Jennison Associates LLC now owns 925,222 shares of the financial services provider’s stock valued at $104,041,000 after acquiring an additional 616,575 shares during the period. Finally, PGGM Investments bought a new stake in shares of Apollo Global Management during the 1st quarter valued at $840,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Stock Up 1.7 %

Shares of NYSE APO opened at $140.24 on Friday. The firm’s 50-day moving average price is $116.77 and its 200-day moving average price is $115.80. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $79.68 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.39 and a beta of 1.62. Apollo Global Management, Inc. has a 12-month low of $77.11 and a 12-month high of $140.35.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $873.18 million. During the same period last year, the company earned $1.54 earnings per share. On average, equities research analysts anticipate that Apollo Global Management, Inc. will post 6.66 EPS for the current fiscal year.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

Insider Buying and Selling

In other news, Director Pauline Richards acquired 2,351 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average cost of $104.92 per share, with a total value of $246,666.92. Following the transaction, the director now directly owns 85,854 shares of the company’s stock, valued at $9,007,801.68. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 8.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

APO has been the subject of several recent analyst reports. TD Cowen upped their target price 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. Barclays upped their target price on shares of Apollo Global Management from $128.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. UBS Group upped their target price on shares of Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Argus dropped their target price on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Finally, BMO Capital Markets upped their target price on shares of Apollo Global Management from $123.00 to $138.00 and gave the stock an “outperform” rating in a report 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $138.06.

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.