Martin Kelly Sells 3,000 Shares of Apollo Global Management (NYSE:APO) Stock

Apollo Global Management Inc. (NYSE:APO) CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares in the company, valued at approximately $55,847,707.72. The trade was a 0.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Apollo Global Management Stock Down 4.2%

Shares of Apollo Global Management stock traded down $5.85 on Monday, hitting $134.91. The company had a trading volume of 4,468,719 shares, compared to its average volume of 4,600,178. The stock has a 50-day moving average of $126.53 and a 200-day moving average of $122.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.70 and a quick ratio of 1.70. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.29. The firm has a market capitalization of $79.67 billion, a P/E ratio of 49.42, a P/E/G ratio of 1.26 and a beta of 1.51.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%.During the same quarter in the previous year, the business earned $1.92 earnings per share. Research analysts predict that Apollo Global Management Inc. will post 8.12 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th will be paid a $0.5625 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. Apollo Global Management’s dividend payout ratio (DPR) is currently 82.42%.

Institutional Trading of Apollo Global Management

Hedge funds and other institutional investors have recently modified their holdings of the stock. Proficio Capital Partners LLC bought a new stake in Apollo Global Management during the second quarter worth about $262,000. Pure Financial Advisors LLC bought a new position in Apollo Global Management in the second quarter valued at approximately $823,000. Transamerica Financial Advisors LLC bought a new position in Apollo Global Management in the second quarter valued at approximately $90,000. Corient Private Wealth LP acquired a new position in shares of Apollo Global Management during the 2nd quarter worth approximately $27,928,000. Finally, Punch & Associates Investment Management Inc. bought a new stake in shares of Apollo Global Management during the 2nd quarter worth approximately $11,611,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Apollo Global Management in a research note on Friday, August 7th. Piper Sandler reduced their price target on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Wall Street Zen cut shares of Apollo Global Management from a “sell” rating to a “strong sell” rating in a research note on Monday, August 10th. Finally, Barclays lifted their price objective on shares of Apollo Global Management from $132.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $152.77.

About Apollo Global Management

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.