Public Sector Pension Investment Board Sells 1,544 Shares of Apollo Global Management, Inc. (NYSE:APO)

Public Sector Pension Investment Board lowered its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,163 shares of the financial services provider’s stock after selling 1,544 shares during the period. Public Sector Pension Investment Board’s holdings in Apollo Global Management were worth $6,159,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Los Angeles Capital Management LLC raised its stake in shares of Apollo Global Management by 112.3% in the first quarter. Los Angeles Capital Management LLC now owns 1,045,422 shares of the financial services provider’s stock valued at $117,558,000 after buying an additional 552,893 shares during the period. CenterBook Partners LP raised its stake in Apollo Global Management by 59.9% in the 4th quarter. CenterBook Partners LP now owns 20,739 shares of the financial services provider’s stock valued at $1,933,000 after acquiring an additional 7,769 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Apollo Global Management by 49.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 52,576 shares of the financial services provider’s stock valued at $4,900,000 after purchasing an additional 17,361 shares during the last quarter. Empowered Funds LLC lifted its holdings in Apollo Global Management by 193.3% during the first quarter. Empowered Funds LLC now owns 51,181 shares of the financial services provider’s stock valued at $5,755,000 after purchasing an additional 33,731 shares during the last quarter. Finally, Diversified Trust Co purchased a new position in shares of Apollo Global Management in the first quarter worth about $1,731,000. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Down 0.5 %

APO opened at $124.52 on Thursday. Apollo Global Management, Inc. has a one year low of $77.11 and a one year high of $126.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. The business has a 50 day simple moving average of $113.78 and a two-hundred day simple moving average of $114.02. The firm has a market capitalization of $70.75 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.30 and a beta of 1.61.

Apollo Global Management (NYSE:APO) last announced 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 during 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 previous year, the business earned $1.54 EPS. Analysts predict that Apollo Global Management, Inc. will post 6.62 EPS for the current year.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Friday, August 16th. Apollo Global Management’s payout ratio is currently 20.49%.

Analyst Ratings Changes

APO has been the subject of a number of recent research reports. Argus reduced their price objective on shares of 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. Keefe, Bruyette & Woods raised their price target on Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a report on Friday, July 12th. Wells Fargo & Company initiated coverage on shares of Apollo Global Management in a research report on Thursday, September 12th. They issued an “overweight” rating and a $132.00 target price for the company. UBS Group raised their price target on Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, Redburn Partners assumed coverage on Apollo Global Management in a report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $129.65.

Insiders Place Their Bets

In other news, Director Pauline Richards bought 2,351 shares of Apollo Global Management stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the acquisition, the director now owns 85,854 shares of the company’s stock, valued at $9,007,801.68. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.50% of the stock is currently owned by company insiders.

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.