Alta Advisers Ltd Decreases Stake in Apollo Global Management, Inc. (NYSE:APO)

Alta Advisers Ltd lessened its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,496 shares of the financial services provider’s stock after selling 104 shares during the period. Alta Advisers Ltd’s holdings in Apollo Global Management were worth $247,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of APO. Vanguard Group Inc. grew its position in shares of Apollo Global Management by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after purchasing an additional 3,691,700 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Apollo Global Management by 64.6% during the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock valued at $1,550,316,000 after acquiring an additional 3,695,979 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Apollo Global Management by 60.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after buying an additional 1,094,464 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Apollo Global Management by 245.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock worth $438,196,000 after buying an additional 1,886,146 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Apollo Global Management by 42.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock valued at $436,148,000 after buying an additional 782,700 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Up 3.4 %

APO stock opened at $123.72 on Wednesday. The company’s 50 day moving average price is $136.59 and its 200 day moving average price is $153.23. The firm has a market capitalization of $70.58 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.50%. Apollo Global Management’s payout ratio is 25.31%.

Insider Activity

In other Apollo Global Management news, insider Lb 2018 Gst Trust bought 607,725 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the transaction, the insider now owns 621,754 shares of the company’s stock, valued at approximately $69,257,178.06. The trade was a 4,331.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Bank of America raised their target price on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 4th. Keefe, Bruyette & Woods reduced their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Raymond James started coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 target price for the company. Morgan Stanley reduced their price target on shares of Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Finally, Piper Sandler lowered their price objective on shares of Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Apollo Global Management 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.