Wellington Management Group LLP Cuts Stake in Apollo Global Management Inc. $APO

Wellington Management Group LLP lessened its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 21.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 938,809 shares of the financial services provider’s stock after selling 252,746 shares during the quarter. Wellington Management Group LLP’s holdings in Apollo Global Management were worth $111,070,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of Apollo Global Management by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider’s stock valued at $1,469,793,000 after acquiring an additional 200,312 shares during the period. Northern Trust Corp raised its holdings in shares of Apollo Global Management by 1.4% in the 4th quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider’s stock worth $643,982,000 after purchasing an additional 62,831 shares during the period. Legal & General Group Plc purchased a new position in Apollo Global Management in the second quarter valued at approximately $459,987,000. Charles Schwab Investment Management Inc. lifted its stake in Apollo Global Management by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider’s stock valued at $475,985,000 after purchasing an additional 98,945 shares during the last quarter. Finally, Boston Partners grew its holdings in Apollo Global Management by 106.7% during the fourth quarter. Boston Partners now owns 3,278,862 shares of the financial services provider’s stock valued at $474,384,000 after purchasing an additional 1,692,532 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Stock Down 3.6%

Shares of NYSE APO opened at $131.72 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34. The company has a market cap of $77.79 billion, a P/E ratio of 48.25, a P/E/G ratio of 1.20 and a beta of 1.52. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29. The business has a 50-day simple moving average of $126.28 and a two-hundred day simple moving average of $122.86.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the prior year, the company earned $1.92 earnings per share. Research analysts anticipate that Apollo Global Management Inc. will post 8.08 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 19th were issued a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, August 19th. Apollo Global Management’s dividend payout ratio is 82.42%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the sale, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. This represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APO. HSBC assumed coverage on Apollo Global Management in a research report on Monday, July 20th. They issued a “buy” rating and a $145.00 target price for the company. Barclays increased their price target on Apollo Global Management from $132.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Weiss Ratings raised Apollo Global Management from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Morgan Stanley lowered their price objective on Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods raised shares of Apollo Global Management to a “hold” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average 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.