Los Angeles Capital Management LLC Has $5.84 Million Position in Apollo Global Management, Inc. (NYSE:APO)

Los Angeles Capital Management LLC decreased its stake in Apollo Global Management, Inc. (NYSE:APO) by 95.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,433 shares of the financial services provider’s stock after selling 995,989 shares during the period. Los Angeles Capital Management LLC’s holdings in Apollo Global Management were worth $5,837,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in APO. Candriam S.C.A. increased its position in shares of Apollo Global Management by 7.9% during the second quarter. Candriam S.C.A. now owns 163,002 shares of the financial services provider’s stock worth $19,245,000 after buying an additional 11,866 shares during the period. Private Advisor Group LLC grew its holdings in Apollo Global Management by 9.1% during the 2nd quarter. Private Advisor Group LLC now owns 10,318 shares of the financial services provider’s stock worth $1,218,000 after acquiring an additional 858 shares during the period. Wellington Shields Capital Management LLC raised its position in shares of Apollo Global Management by 1.1% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 51,268 shares of the financial services provider’s stock worth $6,053,000 after acquiring an additional 573 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Apollo Global Management by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 115,299 shares of the financial services provider’s stock valued at $13,613,000 after purchasing an additional 1,290 shares during the period. Finally, Altus Wealth Group LLC boosted its position in shares of Apollo Global Management by 6.2% during the 2nd quarter. Altus Wealth Group LLC now owns 10,428 shares of the financial services provider’s stock valued at $1,231,000 after purchasing an additional 613 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insiders Place Their Bets

In other Apollo Global Management news, Director Pauline Richards bought 2,351 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 85,854 shares in the company, valued at approximately $9,007,801.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

APO opened at $107.58 on Tuesday. Apollo Global Management, Inc. has a 1 year low of $77.11 and a 1 year high of $126.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $61.27 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.11 and a beta of 1.62. The firm’s fifty day moving average price is $114.26 and its two-hundred day moving average price is $113.42.

Apollo Global Management (NYSE:APO) last issued 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). 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 the consensus estimate of $873.18 million. During the same period in the previous year, the company posted $1.54 earnings per share. As a group, analysts anticipate that Apollo Global Management, Inc. will post 6.68 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.4625 per share. 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 1.72%. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on APO. Deutsche Bank Aktiengesellschaft lowered their target price on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. Barclays cut their target price on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. TD Cowen lifted their price target on shares of Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, UBS Group increased their price objective on shares of Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus target price of $128.19.

About Apollo Global Management

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.