Amalgamated Bank Sells 1,850 Shares of Apollo Global Management, Inc. (NYSE:APO)

Amalgamated Bank lessened its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 5.2% in the 2nd quarter, Holdings Channel reports. The firm owned 33,585 shares of the financial services provider’s stock after selling 1,850 shares during the period. Amalgamated Bank’s holdings in Apollo Global Management were worth $3,965,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV boosted its position in shares of Apollo Global Management by 6.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 16,820 shares of the financial services provider’s stock valued at $1,986,000 after acquiring an additional 1,071 shares during the last quarter. Purus Wealth Management LLC raised its stake in Apollo Global Management by 15.8% during the second quarter. Purus Wealth Management LLC now owns 26,005 shares of the financial services provider’s stock valued at $3,070,000 after purchasing an additional 3,551 shares in the last quarter. Menard Financial Group LLC lifted its position in Apollo Global Management by 2.0% during the second quarter. Menard Financial Group LLC now owns 5,690 shares of the financial services provider’s stock valued at $672,000 after purchasing an additional 113 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Apollo Global Management by 9.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,100,820 shares of the financial services provider’s stock worth $129,973,000 after buying an additional 91,506 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Apollo Global Management in the 2nd quarter worth $62,972,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Up 2.4 %

NYSE:APO opened at $124.48 on Monday. The company has a market cap of $70.72 billion, a PE ratio of 13.79, a P/E/G ratio of 1.13 and a beta of 1.61. Apollo Global Management, Inc. has a twelve month low of $77.11 and a twelve 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. The company’s 50 day moving average is $113.64 and its two-hundred day moving average is $113.73.

Apollo Global Management (NYSE:APO) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.03). The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted $1.54 EPS. 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 disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on APO. Wells Fargo & Company began coverage on shares of Apollo Global Management in a research note on Thursday, September 12th. They issued an “overweight” rating and a $132.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. TD Cowen lifted their price objective on shares of Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Redburn Atlantic began coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective for the company. Finally, Barclays dropped their price objective on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.06.

Insider Activity

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $104.92 per share, with a total value of $246,666.92. Following the acquisition, the director now directly owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.50% of the company’s stock.

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.