M3 Advisory Group LLC Trims Stock Position in Apollo Global Management, Inc. (NYSE:APO)

M3 Advisory Group LLC cut its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 38.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,937 shares of the financial services provider’s stock after selling 1,206 shares during the quarter. M3 Advisory Group LLC’s holdings in Apollo Global Management were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APO. Compagnie Lombard Odier SCmA purchased a new position in shares of Apollo Global Management in the 3rd quarter worth about $35,000. Cullen Frost Bankers Inc. purchased a new position in shares of Apollo Global Management in the 2nd quarter worth about $35,000. J.Safra Asset Management Corp raised its holdings in shares of Apollo Global Management by 709.3% in the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 305 shares during the period. Riverview Trust Co purchased a new position in shares of Apollo Global Management in the 1st quarter worth about $45,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Apollo Global Management by 293.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after buying an additional 346 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Stock Down 0.5 %

Shares of APO stock traded down $0.79 on Friday, reaching $144.40. 374,183 shares of the company’s stock traded hands, compared to its average volume of 2,592,890. The business’s 50 day moving average price is $120.00 and its two-hundred day moving average price is $116.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. Apollo Global Management, Inc. has a 12-month low of $77.11 and a 12-month high of $146.82. The company has a market capitalization of $82.04 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 1.39 and a beta of 1.62.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.03). The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $873.18 million. Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. During the same period in the prior year, the firm posted $1.54 EPS. On average, equities analysts forecast that Apollo Global Management, Inc. will post 6.66 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.4625 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a yield of 1.28%. Apollo Global Management’s payout ratio is 20.49%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on APO shares. Redburn Atlantic started coverage on Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective for the company. Argus lowered their price objective on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. Barclays lifted their target price on Apollo Global Management from $128.00 to $148.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. lifted their target price on Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley lifted their target price on Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $138.06.

Insider Buying and Selling at Apollo Global Management

In related news, Director Pauline Richards purchased 2,351 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were bought at an average price of $104.92 per share, with a total value of $246,666.92. Following the purchase, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets. The firm prefers to invest in private and public 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, venture capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.