Accuvest Global Advisors Sells 14,931 Shares of Apollo Global Management, Inc. (NYSE:APO)

Accuvest Global Advisors cut its stake in Apollo Global Management, Inc. (NYSE:APO) by 40.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,400 shares of the financial services provider’s stock after selling 14,931 shares during the period. Apollo Global Management accounts for 5.3% of Accuvest Global Advisors’ portfolio, making the stock its 9th largest position. Accuvest Global Advisors’ holdings in Apollo Global Management were worth $3,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in Apollo Global Management by 4.7% in the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after acquiring an additional 254,268 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after acquiring an additional 383,557 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Apollo Global Management by 0.4% in the third quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock valued at $167,298,000 after acquiring an additional 4,892 shares in the last quarter. Swiss National Bank raised its holdings in Apollo Global Management by 0.4% in the third quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock valued at $147,670,000 after acquiring an additional 4,600 shares in the last quarter. Finally, Fort Pitt Capital Group LLC raised its holdings in Apollo Global Management by 10.5% in the third quarter. Fort Pitt Capital Group LLC now owns 1,100,686 shares of the financial services provider’s stock valued at $137,487,000 after acquiring an additional 104,668 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

APO stock opened at $161.97 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The firm has a market capitalization of $91.65 billion, a PE ratio of 22.16, a P/E/G ratio of 1.28 and a beta of 1.63. The firm has a 50-day moving average of $167.19 and a two-hundred day moving average of $147.01.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on APO shares. Morgan Stanley increased their target price on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. BMO Capital Markets increased their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. TD Cowen increased their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 9th. UBS Group upgraded shares of Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.74.

Insider Transactions at Apollo Global Management

In other news, insider Leon D. Black sold 58,200 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the completion of the sale, the insider now directly owns 35,104,773 shares of the company’s stock, valued at $6,086,114,495.01. This represents a 0.17 % 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, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the sale, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,600 shares of company stock valued at $34,977,528 over the last three months. 8.50% of the stock is owned by corporate insiders.

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.