New Century Financial Group LLC Sells 561 Shares of Apollo Global Management, Inc. (NYSE:APO)

New Century Financial Group LLC lessened its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 19.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,378 shares of the financial services provider’s stock after selling 561 shares during the period. New Century Financial Group LLC’s holdings in Apollo Global Management were worth $297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Cullen Frost Bankers Inc. bought a new position in Apollo Global Management in the second quarter valued at approximately $35,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Apollo Global Management during the third quarter worth $35,000. J.Safra Asset Management Corp lifted its position in 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 valued at $39,000 after acquiring an additional 305 shares in the last quarter. Riverview Trust Co acquired a new position in Apollo Global Management in the 1st quarter worth $45,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in 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 worth $55,000 after purchasing an additional 346 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apollo Global Management

In other news, Director Pauline Richards bought 2,351 shares of the stock in a transaction dated Tuesday, August 6th. The shares were bought 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on APO. Barclays upped their price objective 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. The Goldman Sachs Group upped their price target on Apollo Global Management from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Argus lowered their price objective on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Morgan Stanley increased their target price on shares of Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets raised their target price on shares of Apollo Global Management from $123.00 to $138.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.06.

Apollo Global Management Stock Down 0.1 %

APO opened at $145.01 on Monday. The stock’s fifty day simple moving average is $120.81 and its 200 day simple moving average is $116.89. Apollo Global Management, Inc. has a 1-year low of $77.11 and a 1-year high of $146.82. The stock has a market cap of $82.39 billion, a PE ratio of 16.06, a price-to-earnings-growth 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.

Apollo Global Management (NYSE:APO) last issued 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 company had revenue of $6.02 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company earned $1.54 earnings per share. As a group, research analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 annualized dividend and a yield of 1.28%. Apollo Global Management’s dividend payout ratio (DPR) 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.