Apollo Global Management, LLC (APO) Shares Sold by Neuberger Berman Group LLC
Neuberger Berman Group LLC decreased its stake in Apollo Global Management, LLC (NYSE:APO) by 2.1% during the first quarter, Holdings Channel reports. The institutional investor owned 190,620 shares of the financial services provider’s stock after selling 4,150 shares during the period. Neuberger Berman Group LLC’s holdings in Apollo Global Management were worth $4,636,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in Apollo Global Management during the fourth quarter valued at $4,256,000. Commerzbank Aktiengesellschaft FI boosted its position in Apollo Global Management by 5.9% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 19,457 shares of the financial services provider’s stock valued at $377,000 after buying an additional 1,076 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Apollo Global Management during the fourth quarter valued at $215,000. FMR LLC boosted its position in Apollo Global Management by 4.5% in the fourth quarter. FMR LLC now owns 7,993,352 shares of the financial services provider’s stock valued at $154,751,000 after buying an additional 344,646 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Apollo Global Management during the fourth quarter valued at $3,835,000. 74.69% of the stock is owned by institutional investors and hedge funds.
Shares of Apollo Global Management, LLC (NYSE:APO) opened at 27.51 on Friday. The company’s 50-day moving average price is $27.09 and its 200-day moving average price is $23.49. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 9.04 and a beta of 1.21. Apollo Global Management, LLC has a 52-week low of $14.25 and a 52-week high of $28.05.
Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Friday, April 28th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.19. The business had revenue of $641.55 million for the quarter, compared to analysts’ expectations of $570.83 million. Apollo Global Management had a net margin of 23.30% and a return on equity of 72.89%. The firm’s quarterly revenue was up 431.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.18) earnings per share. Equities research analysts forecast that Apollo Global Management, LLC will post $2.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Friday, May 19th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 7.12%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, May 17th. Apollo Global Management’s dividend payout ratio (DPR) is 64.69%.
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Several equities analysts recently weighed in on APO shares. Keefe, Bruyette & Woods reissued a “buy” rating and set a $25.00 price objective on shares of Apollo Global Management in a research report on Friday, March 17th. Zacks Investment Research cut Apollo Global Management from a “buy” rating to a “hold” rating in a research report on Friday, April 7th. Jefferies Group LLC upped their price target on Apollo Global Management from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, May 2nd. Finally, Goldman Sachs Group, Inc. (The) upped their price target on Apollo Global Management from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, June 7th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $25.14.
In other Apollo Global Management news, CFO Martin Kelly sold 10,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $26.77, for a total transaction of $267,700.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Tiger Global Management Llc bought 73,800 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were bought at an average cost of $27.41 per share, for a total transaction of $2,022,858.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 10,060,813 shares of company stock worth $261,457,551 and sold 1,260,000 shares worth $33,537,989. Company insiders own 4.11% of the company’s stock.
About Apollo Global Management
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.
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