Northeast Financial Consultants Inc Sells 16,571 Shares of Apollo Global Management, Inc. (NYSE:APO)

Northeast Financial Consultants Inc cut its holdings in Apollo Global Management, Inc. (NYSE:APO) by 40.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,781 shares of the financial services provider’s stock after selling 16,571 shares during the period. Northeast Financial Consultants Inc’s holdings in Apollo Global Management were worth $2,926,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Cullen Frost Bankers Inc. bought a new stake in Apollo Global Management during the second quarter worth approximately $35,000. J.Safra Asset Management Corp boosted its holdings in shares of Apollo Global Management by 709.3% in the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 305 shares during the period. True Wealth Design LLC bought a new position in shares of Apollo Global Management during the 4th quarter valued at approximately $33,000. Riverview Trust Co purchased a new stake in Apollo Global Management during the 1st quarter valued at $45,000. Finally, Carolinas Wealth Consulting LLC bought a new stake in Apollo Global Management in the fourth quarter worth $38,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Stock Up 0.2 %

NYSE:APO opened at $125.81 on Friday. 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 $126.93. The company has a 50-day moving average of $113.99 and a 200 day moving average of $114.25. The firm has a market cap of $71.48 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.30 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last released 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). 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 net margin of 21.90% and a return on equity of 16.98%. During the same quarter in the prior year, the business posted $1.54 earnings per share. As a group, research analysts anticipate 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 issued a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.47%. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Insider Transactions at Apollo Global Management

In other news, Director Pauline Richards bought 2,351 shares of Apollo Global Management stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the acquisition, the director now owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Apollo Global Management in a research report on Thursday, September 12th. They set an “overweight” rating and a $132.00 price objective on the stock. Wolfe Research started coverage on shares of Apollo Global Management in a research report on Wednesday. They issued an “outperform” rating and a $139.00 price objective on the stock. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on Apollo Global Management from $129.00 to $124.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus target price of $129.65.

Apollo Global Management Company Profile

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.