Morgan Stanley lowered its position in shares of Apollo Global Management, Inc. (NYSE:APO – Free Report) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,665,645 shares of the financial services provider’s stock after selling 240,169 shares during the quarter. Morgan Stanley owned approximately 1.18% of Apollo Global Management worth $598,308,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its position in Apollo Global Management by 7,183.3% during the first quarter. Parkside Financial Bank & Trust now owns 437 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 431 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in Apollo Global Management during the first quarter worth approximately $30,000. Zions Bancorporation N.A. acquired a new stake in Apollo Global Management during the first quarter worth approximately $30,000. Fortis Capital Advisors LLC acquired a new stake in Apollo Global Management during the first quarter worth approximately $37,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in Apollo Global Management during the 1st quarter worth $37,000. Institutional investors and hedge funds own 60.86% of the company’s stock.
Insider Buying and Selling
In related news, insider Leon D. Black sold 300,000 shares of the business’s stock in a transaction that occurred on Saturday, February 24th. The shares were sold at an average price of $111.51, for a total value of $33,453,000.00. Following the sale, the insider now directly owns 43,054,773 shares in the company, valued at approximately $4,801,037,737.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Leon D. Black sold 300,000 shares of the business’s stock in a transaction that occurred on Saturday, February 24th. The shares were sold at an average price of $111.51, for a total value of $33,453,000.00. Following the sale, the insider now directly owns 43,054,773 shares in the company, valued at approximately $4,801,037,737.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $111.44, for a total transaction of $55,720,000.00. Following the completion of the sale, the insider now owns 44,104,773 shares in the company, valued at $4,915,035,903.12. The disclosure for this sale can be found here. Insiders have sold 976,000 shares of company stock worth $108,407,460 in the last ninety days. 8.70% of the stock is currently owned by corporate insiders.
Apollo Global Management Trading Down 1.9 %
Apollo Global Management stock opened at $108.75 on Friday. Apollo Global Management, Inc. has a 52-week low of $55.16 and a 52-week high of $115.03. The firm has a market capitalization of $61.79 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 0.92 and a beta of 1.64. The firm has a 50-day moving average price of $103.51 and a two-hundred day moving average price of $93.67. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.34.
Apollo Global Management (NYSE:APO – Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. The company had revenue of $795.00 million for the quarter, compared to the consensus estimate of $823.27 million. Sell-side analysts expect that Apollo Global Management, Inc. will post 7.48 earnings per share for the current year.
Apollo Global Management Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were issued a $0.43 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.58%. Apollo Global Management’s payout ratio is currently 20.45%.
Analyst Ratings Changes
Several research firms recently issued reports on APO. Wells Fargo & Company lifted their price target on shares of Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Keefe, Bruyette & Woods lifted their price target on shares of Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a research note on Thursday. Morgan Stanley lifted their price target on shares of Apollo Global Management from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Citigroup lifted their price target on shares of Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Apollo Global Management in a research report on Wednesday, February 28th. They issued an “overweight” rating and a $122.00 target price for the company. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $107.92.
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.