Martin Kelly Sells 15,000 Shares of Apollo Global Management LLC (APO) Stock

Apollo Global Management LLC (NYSE:APO) CFO Martin Kelly sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $34.25, for a total value of $513,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of Apollo Global Management LLC (NYSE:APO) traded up $0.16 during trading hours on Wednesday, reaching $33.75. The company’s stock had a trading volume of 983,653 shares, compared to its average volume of 976,158. Apollo Global Management LLC has a one year low of $21.39 and a one year high of $37.35. The firm has a market capitalization of $6,530.00, a P/E ratio of 11.03, a PEG ratio of 0.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.74 and a quick ratio of 1.74.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, February 1st. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.55. Apollo Global Management had a return on equity of 66.33% and a net margin of 23.92%. The company had revenue of $869.50 million during the quarter, compared to the consensus estimate of $599.38 million. During the same period in the previous year, the company posted $0.98 earnings per share. Apollo Global Management’s revenue for the quarter was up 26.9% on a year-over-year basis. equities research analysts anticipate that Apollo Global Management LLC will post 3.12 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 21st will be issued a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.39. This represents a $2.64 dividend on an annualized basis and a yield of 7.82%. Apollo Global Management’s payout ratio is presently 50.98%.

APO has been the topic of a number of recent research reports. Zacks Investment Research upgraded Apollo Global Management from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday, October 10th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $35.00 target price on shares of Apollo Global Management in a research report on Thursday, October 12th. Wells Fargo & Co reiterated an “outperform” rating and issued a $39.00 target price (up previously from $34.00) on shares of Apollo Global Management in a research report on Thursday, November 2nd. Citigroup upped their target price on Apollo Global Management from $35.50 to $38.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, Credit Suisse Group boosted their price target on Apollo Global Management from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, November 2nd. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Apollo Global Management currently has a consensus rating of “Buy” and an average target price of $36.33.

A number of large investors have recently made changes to their positions in APO. Ameriprise Financial Inc. lifted its holdings in Apollo Global Management by 4,894.9% in the third quarter. Ameriprise Financial Inc. now owns 746,881 shares of the financial services provider’s stock valued at $22,481,000 after acquiring an additional 731,928 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Apollo Global Management during the 2nd quarter worth approximately $15,887,000. ING Groep NV raised its stake in shares of Apollo Global Management by 230.0% during the 3rd quarter. ING Groep NV now owns 660,000 shares of the financial services provider’s stock worth $19,866,000 after buying an additional 460,000 shares during the period. Hillman Co. acquired a new position in shares of Apollo Global Management during the 4th quarter worth approximately $9,179,000. Finally, Renaissance Technologies LLC raised its stake in shares of Apollo Global Management by 29.1% during the 2nd quarter. Renaissance Technologies LLC now owns 861,934 shares of the financial services provider’s stock worth $22,798,000 after buying an additional 194,102 shares during the period. 71.76% of the stock is owned by institutional investors.

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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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