Main Street Group LTD Sells 499 Shares of Apollo Global Management, Inc. (NYSE:APO)

Main Street Group LTD lowered its position in Apollo Global Management, Inc. (NYSE:APO) by 14.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,894 shares of the financial services provider’s stock after selling 499 shares during the period. Main Street Group LTD’s holdings in Apollo Global Management were worth $342,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of APO. Van ECK Associates Corp increased its position in shares of Apollo Global Management by 23.7% during the 4th quarter. Van ECK Associates Corp now owns 11,002 shares of the financial services provider’s stock valued at $1,025,000 after purchasing an additional 2,110 shares during the last quarter. Fisher Asset Management LLC bought a new position in Apollo Global Management in the fourth quarter worth approximately $268,000. Private Advisor Group LLC raised its position in Apollo Global Management by 14.3% in the fourth quarter. Private Advisor Group LLC now owns 7,956 shares of the financial services provider’s stock worth $741,000 after acquiring an additional 994 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Apollo Global Management by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,418,600 shares of the financial services provider’s stock worth $132,199,000 after acquiring an additional 59,752 shares during the last quarter. Finally, Wealthspire Advisors LLC grew its position in shares of Apollo Global Management by 16.4% during the 4th quarter. Wealthspire Advisors LLC now owns 12,615 shares of the financial services provider’s stock valued at $1,176,000 after acquiring an additional 1,778 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In related news, Director Pauline Richards bought 2,351 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the acquisition, the director now owns 85,854 shares in the company, valued at $9,007,801.68. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 8.50% of the stock is owned by insiders.

Apollo Global Management Price Performance

Apollo Global Management stock traded down $0.85 during midday trading on Friday, reaching $108.00. 4,233,167 shares of the stock traded hands, compared to its average volume of 2,514,399. The stock has a market cap of $61.36 billion, a P/E ratio of 11.96, a PEG ratio of 1.19 and a beta of 1.59. The stock’s fifty day moving average is $114.49 and its 200-day moving average is $113.40. 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 12 month low of $77.11 and a 12 month high of $126.45.

Apollo Global Management (NYSE:APO) last announced its quarterly 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). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $873.18 million. During the same quarter in the prior year, the firm posted $1.54 EPS. As a group, equities research analysts anticipate that Apollo Global Management, Inc. will post 6.68 EPS for the current year.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s dividend payout ratio is 20.49%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on APO shares. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. UBS Group lifted their price objective on Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Argus reduced 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. Bank of America upgraded shares of Apollo Global Management from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $124.00 to $123.00 in a research note on Tuesday, August 6th. Finally, Redburn Partners started 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 target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $128.19.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.