Cercano Management LLC Has $19.67 Million Stock Position in Apollo Global Management Inc. $APO

Cercano Management LLC cut its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 45.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 147,599 shares of the financial services provider’s stock after selling 124,450 shares during the quarter. Apollo Global Management accounts for about 0.8% of Cercano Management LLC’s investment portfolio, making the stock its 29th largest holding. Cercano Management LLC’s holdings in Apollo Global Management were worth $19,671,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Apollo Global Management by 3.0% during the third quarter. Vanguard Group Inc. now owns 47,419,652 shares of the financial services provider’s stock worth $6,319,617,000 after purchasing an additional 1,377,545 shares during the period. Amundi grew its holdings in shares of Apollo Global Management by 68.9% during the 2nd quarter. Amundi now owns 1,311,102 shares of the financial services provider’s stock valued at $187,199,000 after acquiring an additional 534,904 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Apollo Global Management by 5,670.1% during the 2nd quarter. Marshall Wace LLP now owns 395,020 shares of the financial services provider’s stock valued at $56,041,000 after acquiring an additional 388,174 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Apollo Global Management by 31.1% in the third quarter. Bessemer Group Inc. now owns 1,617,228 shares of the financial services provider’s stock worth $215,530,000 after acquiring an additional 383,198 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in shares of Apollo Global Management by 54.3% during the second quarter. Westfield Capital Management Co. LP now owns 761,721 shares of the financial services provider’s stock worth $108,065,000 after acquiring an additional 268,119 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

NYSE APO opened at $125.06 on Wednesday. The company’s fifty day moving average is $140.37 and its two-hundred day moving average is $135.53. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $164.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.31 and a quick ratio of 1.49. The firm has a market capitalization of $72.58 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 1.08 and a beta of 1.57.

Apollo Global Management (NYSE:APO) last released its earnings results on Monday, February 9th. The financial services provider reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.43. Apollo Global Management had a net margin of 10.90% and a return on equity of 15.25%. The business had revenue of $9.86 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company earned $2.39 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. Equities research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 19th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, February 19th. Apollo Global Management’s dividend payout ratio (DPR) is presently 36.96%.

Insider Activity

In other Apollo Global Management news, CFO Martin Kelly sold 6,000 shares of Apollo Global Management stock in a transaction on Monday, December 1st. The shares were sold at an average price of $131.41, for a total transaction of $788,460.00. Following the sale, the chief financial officer owned 325,604 shares in the company, valued at $42,787,621.64. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

APO has been the topic of several research reports. UBS Group dropped their target price on Apollo Global Management from $186.00 to $182.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. Evercore raised their price target on shares of Apollo Global Management from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. reduced their price target on Apollo Global Management from $164.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, February 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Apollo Global Management in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.79.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.