Park Avenue Securities LLC Sells 503 Shares of Apollo Global Management, Inc. (NYSE:APO)

Park Avenue Securities LLC reduced its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 12.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,447 shares of the financial services provider’s stock after selling 503 shares during the period. Park Avenue Securities LLC’s holdings in Apollo Global Management were worth $431,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. FineMark National Bank & Trust boosted its holdings in shares of Apollo Global Management by 2.4% during the 2nd quarter. FineMark National Bank & Trust now owns 4,117 shares of the financial services provider’s stock worth $486,000 after buying an additional 98 shares during the period. Orion Capital Management LLC boosted its holdings in Apollo Global Management by 20.0% in the 1st quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 100 shares during the period. Valley National Advisers Inc. boosted its holdings in Apollo Global Management by 0.9% in the 1st quarter. Valley National Advisers Inc. now owns 11,519 shares of the financial services provider’s stock valued at $1,295,000 after purchasing an additional 104 shares during the period. Kintegral Advisory LLC boosted its holdings in Apollo Global Management by 2.4% in the 2nd quarter. Kintegral Advisory LLC now owns 4,728 shares of the financial services provider’s stock valued at $558,000 after purchasing an additional 109 shares during the period. Finally, Menard Financial Group LLC boosted its holdings in Apollo Global Management by 2.0% in the 2nd 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 period. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Performance

Shares of APO opened at $140.21 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. Apollo Global Management, Inc. has a twelve month low of $77.11 and a twelve month high of $140.35. The firm’s 50 day moving average price is $116.77 and its two-hundred day moving average price is $115.81. The firm has a market cap of $79.66 billion, a P/E ratio of 15.53, a PEG ratio of 1.39 and a beta of 1.62.

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 for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $873.18 million. During the same period in the previous year, the firm posted $1.54 EPS. On average, analysts forecast that Apollo Global Management, Inc. will post 6.66 EPS for the current fiscal 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. The ex-dividend date was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.32%. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

Insider Activity

In other Apollo Global Management news, Director Pauline Richards acquired 2,351 shares of the stock in a transaction dated Tuesday, August 6th. The shares were bought 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 directly owns 85,854 shares of the company’s stock, valued at approximately $9,007,801.68. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on APO shares. Redburn Atlantic started coverage on shares of Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target for the company. The Goldman Sachs Group increased their price target on shares of Apollo Global Management from $128.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. BMO Capital Markets increased their price target on shares of Apollo Global Management from $123.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Evercore ISI raised their price objective on shares of Apollo Global Management from $127.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.06.

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.