Amalgamated Bank Lowers Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Amalgamated Bank trimmed its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 34.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,435 shares of the financial services provider’s stock after selling 18,846 shares during the quarter. Amalgamated Bank’s holdings in Apollo Global Management were worth $3,985,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Apollo Global Management during the 4th quarter worth about $586,016,000. TD Asset Management Inc raised its position in shares of Apollo Global Management by 4,248.9% during the 4th quarter. TD Asset Management Inc now owns 2,459,235 shares of the financial services provider’s stock worth $229,176,000 after acquiring an additional 2,402,686 shares in the last quarter. FMR LLC raised its position in shares of Apollo Global Management by 18.9% during the 3rd quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock worth $892,973,000 after acquiring an additional 1,584,201 shares in the last quarter. PointState Capital LP acquired a new stake in shares of Apollo Global Management during the 3rd quarter worth about $98,382,000. Finally, Third Point LLC acquired a new position in Apollo Global Management during the fourth quarter worth approximately $83,871,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total value of $3,338,700.00. Following the transaction, the chief financial officer now directly owns 359,445 shares in the company, valued at approximately $40,002,634.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total value of $3,338,700.00. Following the transaction, the chief financial officer now directly owns 359,445 shares in the company, valued at approximately $40,002,634.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Leon D. Black sold 450,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the transaction, the insider now owns 42,604,773 shares in the company, valued at $4,716,774,418.83. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE APO traded up $2.64 during trading on Friday, reaching $115.52. The company had a trading volume of 1,944,715 shares, compared to its average volume of 2,085,430. Apollo Global Management, Inc. has a twelve month low of $62.97 and a twelve month high of $117.15. The stock has a market capitalization of $65.63 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 0.93 and a beta of 1.61. The stock has a 50-day moving average price of $111.89 and a two-hundred day moving average price of $103.22. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.50 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.21). The business had revenue of $839.00 million during the quarter, compared to analyst estimates of $827.33 million. Apollo Global Management had a net margin of 16.27% and a return on equity of 19.12%. As a group, sell-side analysts predict that Apollo Global Management, Inc. will post 7.19 earnings per share for the current year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.463 dividend. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 annualized dividend and a yield of 1.60%. The ex-dividend date is Thursday, May 16th. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Analyst Ratings Changes

Several research analysts have commented on APO shares. JMP Securities reaffirmed a “market perform” rating on shares of Apollo Global Management in a research report on Tuesday, April 9th. Barclays dropped their target price on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Citigroup boosted their target price on Apollo Global Management from $111.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, Jefferies Financial Group dropped their target price on Apollo Global Management from $119.00 to $117.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.62.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.