Kingswood Wealth Advisors LLC Sells 1,896 Shares of Apollo Global Management Inc. $APO

Kingswood Wealth Advisors LLC lessened its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 35.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,518 shares of the financial services provider’s stock after selling 1,896 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Apollo Global Management were worth $499,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. GW&K Investment Management LLC grew its holdings in shares of Apollo Global Management by 84.5% during the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares during the last quarter. ORG Partners LLC lifted its stake in shares of Apollo Global Management by 285.0% during the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 171 shares during the period. Bay Harbor Wealth Management LLC lifted its stake in shares of Apollo Global Management by 5,200.0% during the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 260 shares during the period. Farmers & Merchants Investments Inc. acquired a new position in shares of Apollo Global Management during the first quarter valued at $39,000. Finally, Rise Advisors LLC acquired a new position in shares of Apollo Global Management during the first quarter valued at $42,000. Institutional investors own 77.06% of the company’s stock.

Insiders Place Their Bets

In other Apollo Global Management news, insider Leon D. Black sold 915,000 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the sale, the insider directly owned 4,526,000 shares in the company, valued at $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the sale, the insider owned 83,192 shares of the company’s stock, valued at $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 935,000 shares of company stock worth $125,543,790 over the last ninety days. 8.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on APO. Wells Fargo & Company upped their price target on Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday. BMO Capital Markets began coverage on Apollo Global Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $132.00 price target on the stock. Barclays cut their price target on Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Evercore ISI upped their price target on Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.57.

Apollo Global Management Trading Down 1.2%

NYSE:APO opened at $123.31 on Friday. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49. The business’s 50-day moving average price is $136.61 and its two-hundred day moving average price is $136.48. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $70.54 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 1.35 and a beta of 1.68.

Apollo Global Management (NYSE:APO) last released its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The firm had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. On average, equities analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s dividend payout ratio is 38.13%.

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.