Apollo Global Management (APO) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its holdings in Apollo Global Management (NYSE:APO) by 4.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 87,788 shares of the financial services provider’s stock after selling 3,949 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Apollo Global Management were worth $2,600,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in APO. TimesSquare Capital Management LLC raised its stake in shares of Apollo Global Management by 1.9% in the fourth quarter. TimesSquare Capital Management LLC now owns 3,821,500 shares of the financial services provider’s stock worth $127,906,000 after purchasing an additional 70,200 shares during the last quarter. Beck Mack & Oliver LLC raised its stake in shares of Apollo Global Management by 1.1% in the fourth quarter. Beck Mack & Oliver LLC now owns 3,093,673 shares of the financial services provider’s stock worth $103,545,000 after purchasing an additional 34,943 shares during the last quarter. CDAM UK Ltd purchased a new position in shares of Apollo Global Management in the fourth quarter worth about $77,206,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Apollo Global Management by 56.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,233,286 shares of the financial services provider’s stock worth $41,278,000 after purchasing an additional 443,134 shares during the last quarter. Finally, Algebris UK Ltd raised its stake in shares of Apollo Global Management by 190.3% in the first quarter. Algebris UK Ltd now owns 723,272 shares of the financial services provider’s stock worth $21,423,000 after purchasing an additional 474,161 shares during the last quarter. Institutional investors own 70.67% of the company’s stock.

Apollo Global Management stock opened at $31.39 on Tuesday. The stock has a market cap of $6.28 billion, a P/E ratio of 8.79, a P/E/G ratio of 1.35 and a beta of 1.15. Apollo Global Management has a 52 week low of $25.61 and a 52 week high of $37.35. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.52.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, May 3rd. The financial services provider reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.26). Apollo Global Management had a net margin of 19.52% and a return on equity of 44.72%. The business had revenue of $149.62 million during the quarter, compared to analyst estimates of $215.07 million. During the same period in the previous year, the business posted $0.82 earnings per share. The firm’s revenue for the quarter was down 77.5% on a year-over-year basis. research analysts anticipate that Apollo Global Management will post 2.12 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Friday, May 18th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend is Thursday, May 17th. Apollo Global Management’s payout ratio is currently 73.95%.

In other Apollo Global Management news, major shareholder Tiger Global Management Llc acquired 50,000 shares of the company’s stock in a transaction on Thursday, April 26th. The shares were bought at an average cost of $28.10 per share, with a total value of $1,405,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pauline Richards acquired 1,280 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was acquired at an average cost of $33.66 per share, for a total transaction of $43,084.80. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 201,280 shares of company stock worth $5,932,585 and sold 576,842 shares worth $19,599,388. 4.11% of the stock is currently owned by company insiders.

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods restated a “buy” rating and issued a $43.00 price objective on shares of Apollo Global Management in a research note on Thursday, February 1st. Morgan Stanley reduced their price objective on Apollo Global Management from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, April 10th. Deutsche Bank dropped their target price on Apollo Global Management from $36.00 to $33.00 and set a “hold” rating on the stock in a report on Friday, April 6th. JPMorgan Chase dropped their target price on Apollo Global Management from $40.00 to $37.00 and set an “overweight” rating on the stock in a report on Tuesday, May 1st. Finally, ValuEngine lowered Apollo Global Management from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Apollo Global Management has an average rating of “Buy” and a consensus price target of $36.69.

Apollo Global Management Profile

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds and mutual funds for its clients.

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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