Valley National Advisers Inc. Sells 284 Shares of Apollo Global Management, Inc. (NYSE:APO)

Valley National Advisers Inc. cut its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,140 shares of the financial services provider’s stock after selling 284 shares during the period. Valley National Advisers Inc.’s holdings in Apollo Global Management were worth $1,391,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in Apollo Global Management by 193.3% during the 1st quarter. Empowered Funds LLC now owns 51,181 shares of the financial services provider’s stock worth $5,755,000 after purchasing an additional 33,731 shares in the last quarter. Diversified Trust Co bought a new stake in Apollo Global Management during the first quarter worth $1,731,000. Jennison Associates LLC raised its position in Apollo Global Management by 199.8% in the 1st quarter. Jennison Associates LLC now owns 925,222 shares of the financial services provider’s stock valued at $104,041,000 after buying an additional 616,575 shares during the last quarter. PGGM Investments bought a new position in Apollo Global Management during the 1st quarter valued at $840,000. Finally, Tempus Wealth Planning LLC purchased a new position in Apollo Global Management during the 1st quarter worth $877,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Apollo Global Management from $129.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, August 15th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Morgan Stanley upped their target price on Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. UBS Group lifted their price target on Apollo Global Management from $117.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group upped their price objective on Apollo Global Management from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $139.56.

Insider Activity

In other news, Director Pauline Richards acquired 2,351 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average price of $104.92 per share, with a total value 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. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

Shares of APO stock opened at $143.09 on Friday. Apollo Global Management, Inc. has a 12 month low of $77.11 and a 12 month high of $146.82. The stock has a market capitalization of $81.30 billion, a P/E ratio of 15.85, a PEG ratio of 1.39 and a beta of 1.62. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $124.54 and its 200 day moving average is $117.98.

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

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s payout ratio is presently 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.