Skandinaviska Enskilda Banken AB publ Sells 5,341 Shares of Apollo Global Management, Inc. (NYSE:APO)

Skandinaviska Enskilda Banken AB publ reduced its holdings in Apollo Global Management, Inc. (NYSE:APO) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 174,771 shares of the financial services provider’s stock after selling 5,341 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Apollo Global Management were worth $20,635,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. DSM Capital Partners LLC bought a new stake in Apollo Global Management in the fourth quarter worth approximately $31,000. True Wealth Design LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $33,000. Cullen Frost Bankers Inc. acquired a new stake in Apollo Global Management in the second quarter valued at approximately $35,000. Carolinas Wealth Consulting LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $38,000. Finally, J.Safra Asset Management Corp grew its stake in Apollo Global Management by 709.3% in the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 305 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Argus reduced 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. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $124.00 to $123.00 in a research note on Tuesday, August 6th. Evercore ISI raised their price objective on Apollo Global Management from $128.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, Redburn Partners initiated coverage on Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and an average target price of $129.06.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $124.54 on Friday. The business’s fifty day simple moving average is $113.56 and its 200 day simple moving average is $113.57. The firm has a market capitalization of $70.76 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. Apollo Global Management, Inc. has a 12 month low of $77.11 and a 12 month high of $126.45. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36.

Apollo Global Management (NYSE:APO) last issued 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). The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same quarter last year, the business posted $1.54 earnings per share. As a group, analysts anticipate that Apollo Global Management, Inc. will post 6.62 EPS for the current 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 1.49%. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

Insider Buying and Selling

In other news, Director Pauline Richards bought 2,351 shares of the stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the purchase, 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 accessible through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

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.