Nippon Life Global Investors Americas Inc. Cuts Position in Apollo Global Management, Inc. (NYSE:APO)

Nippon Life Global Investors Americas Inc. lessened its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 5.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 363,930 shares of the financial services provider’s stock after selling 19,830 shares during the period. Apollo Global Management accounts for about 1.9% of Nippon Life Global Investors Americas Inc.’s portfolio, making the stock its 18th biggest holding. Nippon Life Global Investors Americas Inc.’s holdings in Apollo Global Management were worth $42,969,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Apollo Global Management by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock worth $3,824,342,000 after purchasing an additional 750,781 shares during the last quarter. Capital International Investors grew its position in shares of Apollo Global Management by 2.1% in the 4th quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock valued at $1,004,161,000 after buying an additional 218,566 shares during the last quarter. Putnam Investments LLC raised its stake in Apollo Global Management by 2.8% during the 4th quarter. Putnam Investments LLC now owns 5,939,220 shares of the financial services provider’s stock worth $553,476,000 after acquiring an additional 164,400 shares in the last quarter. Capital Research Global Investors lifted its position in Apollo Global Management by 40.3% in the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after acquiring an additional 1,360,525 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Apollo Global Management by 3.8% during the second quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock worth $318,522,000 after purchasing an additional 97,797 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APO has been the topic of a number of research reports. Evercore ISI raised their price target on Apollo Global Management from $128.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. TD Cowen upped 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 report on Monday, July 8th. Redburn Partners began coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target for the company. UBS Group lifted their price objective on shares of Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $129.06.

Insider Transactions at Apollo Global Management

In other news, Director Pauline Richards acquired 2,351 shares of the company’s stock in a transaction that occurred on 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 purchase, the director now directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Trading Up 2.4 %

Shares of APO stock opened at $124.48 on Monday. The business’s fifty day moving average price is $113.64 and its 200 day moving average price is $113.73. The firm has a market capitalization of $70.72 billion, a PE ratio of 13.79, a P/E/G ratio of 1.13 and a beta of 1.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. Apollo Global Management, Inc. has a 1-year low of $77.11 and a 1-year 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $873.18 million. Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. During the same quarter in the prior year, the business earned $1.54 EPS. As a group, sell-side analysts forecast that Apollo Global Management, Inc. will post 6.62 EPS for the current fiscal year.

Apollo Global Management Cuts Dividend

The business also recently declared 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. The ex-dividend date was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.49%. Apollo Global Management’s payout ratio is 20.49%.

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.