Amalgamated Bank Sells 18,846 Shares of Apollo Global Management, Inc. (NYSE:APO)

Amalgamated Bank lowered its position in Apollo Global Management, Inc. (NYSE:APO) by 34.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,435 shares of the financial services provider’s stock after selling 18,846 shares during the quarter. Amalgamated Bank’s holdings in Apollo Global Management were worth $3,985,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Apollo Global Management by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 41,038,114 shares of the financial services provider’s stock worth $3,824,342,000 after acquiring an additional 750,781 shares during the period. Capital International Investors raised its holdings in shares of Apollo Global Management by 2.1% in the 4th quarter. Capital International Investors now owns 10,775,413 shares of the financial services provider’s stock worth $1,004,161,000 after buying an additional 218,566 shares in the last quarter. FMR LLC raised its holdings in shares of Apollo Global Management by 18.9% in the 3rd quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock worth $892,973,000 after buying an additional 1,584,201 shares in the last quarter. Norges Bank acquired a new position in shares of Apollo Global Management in the 4th quarter worth approximately $586,016,000. Finally, Putnam Investments LLC raised its holdings in shares of Apollo Global Management by 2.8% in the 4th quarter. Putnam Investments LLC now owns 5,939,220 shares of the financial services provider’s stock worth $553,476,000 after buying an additional 164,400 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Up 2.3 %

Shares of NYSE APO traded up $2.64 during midday trading on Friday, hitting $115.52. The stock had a trading volume of 1,944,715 shares, compared to its average volume of 2,085,430. The company’s 50-day simple moving average is $111.89 and its 200 day simple moving average is $103.22. The firm has a market cap of $65.63 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 0.93 and a beta of 1.61. Apollo Global Management, Inc. has a fifty-two week low of $62.97 and a fifty-two week high of $117.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.60 and a quick ratio of 1.60.

Apollo Global Management (NYSE:APO) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.50 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.21). The firm had revenue of $839.00 million during the quarter, compared to analyst estimates of $827.33 million. Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. Research analysts anticipate that Apollo Global Management, Inc. will post 7.19 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.463 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, May 16th. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on APO shares. Citigroup increased their target price on Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. BMO Capital Markets increased their target price on Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Barclays dropped their target price on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Evercore ISI raised their price target on Apollo Global Management from $120.00 to $128.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price target on Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.62.

Insider Activity

In other news, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total value of $3,338,700.00. Following the transaction, the chief financial officer now directly owns 359,445 shares in the company, valued at approximately $40,002,634.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total value of $3,338,700.00. Following the transaction, the chief financial officer now directly owns 359,445 shares in the company, valued at approximately $40,002,634.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon D. Black sold 450,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the transaction, the insider now owns 42,604,773 shares in the company, valued at $4,716,774,418.83. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.