Royal London Asset Management Ltd. Sells 5,738 Shares of Apollo Global Management Inc. $APO

Royal London Asset Management Ltd. lowered its stake in Apollo Global Management Inc. (NYSE:APO) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 284,132 shares of the financial services provider’s stock after selling 5,738 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Apollo Global Management were worth $33,616,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Legal & General Group Plc purchased a new position in shares of Apollo Global Management during the second quarter valued at about $459,987,000. Bank of New York Mellon Corp purchased a new stake in shares of Apollo Global Management in the second quarter worth about $336,644,000. Boston Partners lifted its position in shares of Apollo Global Management by 106.7% in the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock worth $474,384,000 after buying an additional 1,692,532 shares in the last quarter. Temasek Holdings Private Ltd boosted its stake in Apollo Global Management by 214.4% during the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock valued at $263,861,000 after buying an additional 1,614,813 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in Apollo Global Management during the second quarter valued at approximately $172,290,000. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Royal Bank Of Canada lifted their price objective on Apollo Global Management from $137.00 to $146.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Barclays raised their target price 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. Weiss Ratings upgraded shares of Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Finally, Wall Street Zen raised shares of Apollo Global Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average target price of $152.77.

Apollo Global Management Trading Up 1.5%

Shares of NYSE APO opened at $135.39 on Friday. The business’s 50 day moving average is $126.22 and its two-hundred day moving average is $122.87. 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 1-year low of $99.56 and a 1-year high of $153.29. The stock has a market capitalization of $79.95 billion, a P/E ratio of 49.59, a PEG ratio of 1.22 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 earnings per share (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 analysts’ expectations of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter last year, the company earned $1.92 earnings per share. As a group, research analysts expect that Apollo Global Management Inc. will post 8.08 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 19th will be issued a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, August 19th. Apollo Global Management’s dividend payout ratio is presently 82.42%.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the sale, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.30% of the company’s stock.

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.