Jackson Square Capital LLC Trims Position in Apollo Global Management, Inc. (NYSE:APO)

Jackson Square Capital LLC lessened its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 24.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,700 shares of the financial services provider’s stock after selling 538 shares during the quarter. Jackson Square Capital LLC’s holdings in Apollo Global Management were worth $281,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Chicago Capital LLC grew its holdings in Apollo Global Management by 1.2% during the 3rd quarter. Chicago Capital LLC now owns 5,675 shares of the financial services provider’s stock valued at $709,000 after buying an additional 69 shares in the last quarter. Menard Financial Group LLC grew its holdings in Apollo Global Management by 1.2% during the 3rd quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider’s stock valued at $720,000 after buying an additional 71 shares in the last quarter. Cyndeo Wealth Partners LLC grew its holdings in Apollo Global Management by 3.0% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,687 shares of the financial services provider’s stock valued at $336,000 after buying an additional 77 shares in the last quarter. Sfmg LLC grew its holdings in shares of Apollo Global Management by 1.1% during the third quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock worth $902,000 after purchasing an additional 79 shares in the last quarter. Finally, Cigna Investments Inc. New grew its holdings in shares of Apollo Global Management by 1.8% during the third quarter. Cigna Investments Inc. New now owns 5,166 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of APO stock opened at $166.81 on Friday. The stock has a fifty day moving average of $169.18 and a 200 day moving average of $139.82. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The firm has a market capitalization of $94.38 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.20 and a beta of 1.63. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were paid a $0.463 dividend. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.11%. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.33%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on APO shares. Barclays boosted their price objective on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. BMO Capital Markets boosted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Morgan Stanley boosted their price objective on 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, Keefe, Bruyette & Woods boosted their target price on Apollo Global Management from $168.00 to $196.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.32.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now owns 320,564 shares in the company, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leon D. Black sold 58,200 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the completion of the transaction, the insider now owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. This trade represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 196,600 shares of company stock valued at $34,186,128 over the last quarter. 8.50% of the stock is owned by company insiders.

About Apollo Global Management

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.