Venator Management LLC Trims Stake in Apollo Global Management, Inc. (NYSE:APO)

Venator Management LLC cut its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,738 shares of the financial services provider’s stock after selling 1,760 shares during the period. Apollo Global Management comprises about 0.6% of Venator Management LLC’s investment portfolio, making the stock its 17th biggest position. Venator Management LLC’s holdings in Apollo Global Management were worth $1,976,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Carolinas Wealth Consulting LLC lifted its position in shares of Apollo Global Management by 13.2% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 2,159 shares of the financial services provider’s stock valued at $255,000 after buying an additional 252 shares in the last quarter. Hsbc Holdings PLC raised its stake in Apollo Global Management by 13.6% during the 2nd quarter. Hsbc Holdings PLC now owns 280,068 shares of the financial services provider’s stock worth $33,094,000 after acquiring an additional 33,484 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Apollo Global Management by 29.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,106 shares of the financial services provider’s stock valued at $2,363,000 after purchasing an additional 4,593 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Apollo Global Management by 6.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 16,820 shares of the financial services provider’s stock worth $1,986,000 after purchasing an additional 1,071 shares during the period. Finally, Purus Wealth Management LLC increased its stake in shares of Apollo Global Management by 15.8% in the second quarter. Purus Wealth Management LLC now owns 26,005 shares of the financial services provider’s stock worth $3,070,000 after purchasing an additional 3,551 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Insiders Place Their Bets

In related news, Director Pauline Richards bought 2,351 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average price of $104.92 per share, with a total value of $246,666.92. Following the transaction, the director now owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Down 0.2 %

NYSE APO opened at $117.57 on Thursday. 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 52 week low of $77.11 and a 52 week high of $126.45. The firm has a market capitalization of $66.80 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.13 and a beta of 1.61. The company has a fifty day moving average of $113.58 and a two-hundred day moving average of $113.49.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.64 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 for the quarter, compared to analysts’ expectations of $873.18 million. During the same period in the prior year, the firm posted $1.54 earnings per share. On average, analysts predict that Apollo Global Management, Inc. will post 6.62 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The company also recently declared 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 was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.57%. Apollo Global Management’s payout ratio is 20.49%.

Analysts Set New Price Targets

APO has been the subject of several recent analyst reports. Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. Argus dropped their price objective on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. Barclays cut their target price on Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Evercore ISI boosted their price target on Apollo Global Management from $128.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, TD Cowen increased their price objective on shares of Apollo Global Management from $146.00 to $147.00 and gave the company a “buy” rating in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $129.06.

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.