Stonegate Investment Group LLC Has $927,000 Stake in Apollo Global Management, Inc. (NYSE:APO)

Stonegate Investment Group LLC lowered its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,423 shares of the financial services provider’s stock after selling 152 shares during the quarter. Stonegate Investment Group LLC’s holdings in Apollo Global Management were worth $927,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new stake in Apollo Global Management during the second quarter worth approximately $35,000. Compagnie Lombard Odier SCmA acquired a new stake in Apollo Global Management during the third quarter worth approximately $35,000. J.Safra Asset Management Corp grew its position in Apollo Global Management by 709.3% during the first quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock worth $39,000 after buying an additional 305 shares in the last quarter. Riverview Trust Co acquired a new stake in Apollo Global Management during the first quarter worth approximately $45,000. Finally, Massmutual Trust Co. FSB ADV grew its position in Apollo Global Management by 293.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock worth $55,000 after buying an additional 346 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on APO. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Keefe, Bruyette & Woods upped their target price on Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. Morgan Stanley upped their target price on Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. BMO Capital Markets upped their target price on Apollo Global Management from $123.00 to $138.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their target price on Apollo Global Management from $148.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.06.

Insider Activity at Apollo Global Management

In other news, Director Pauline Richards acquired 2,351 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $104.92 per share, for a total transaction of $246,666.92. Following the completion of the purchase, the director now owns 85,854 shares in the company, valued at approximately $9,007,801.68. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.50% of the stock is owned by company insiders.

Apollo Global Management Stock Performance

Shares of APO opened at $144.99 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a 50-day moving average of $120.81 and a 200-day moving average of $116.85. The company has a market cap of $82.38 billion, a PE ratio of 16.06, a P/E/G ratio of 1.39 and a beta of 1.62. Apollo Global Management, Inc. has a one year low of $77.11 and a one year high of $146.82.

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

Apollo Global Management Cuts Dividend

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

Apollo Global Management Company 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.