Cynosure Group LLC Has $272,000 Position in Apollo Global Management, Inc. (NYSE:APO)

Cynosure Group LLC trimmed its position in Apollo Global Management, Inc. (NYSE:APO) by 45.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,645 shares of the financial services provider’s stock after selling 1,390 shares during the period. Cynosure Group LLC’s holdings in Apollo Global Management were worth $272,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of APO. Cinctive Capital Management LP lifted its holdings in Apollo Global Management by 739.0% during the fourth quarter. Cinctive Capital Management LP now owns 72,103 shares of the financial services provider’s stock worth $11,909,000 after acquiring an additional 63,509 shares in the last quarter. Crescent Park Management L.P. lifted its holdings in shares of Apollo Global Management by 3.7% during the 4th quarter. Crescent Park Management L.P. now owns 20,232 shares of the financial services provider’s stock valued at $3,342,000 after purchasing an additional 723 shares in the last quarter. Private Portfolio Partners LLC bought a new position in shares of Apollo Global Management during the 4th quarter valued at about $210,000. Massachusetts Financial Services Co. MA grew its position in shares of Apollo Global Management by 245.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock valued at $438,196,000 after purchasing an additional 1,886,146 shares during the period. Finally, Geode Capital Management LLC increased its stake in 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 worth $1,550,316,000 after purchasing an additional 3,695,979 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

NYSE:APO opened at $108.22 on Friday. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The firm has a market capitalization of $61.74 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 1.17 and a beta of 1.66. The stock’s 50 day moving average price is $148.49 and its two-hundred day moving average price is $153.57. 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.71%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is 25.31%.

Insiders Place Their Bets

In related news, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now directly owns 377,164 shares in the company, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on APO shares. Barclays upped their price target on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. BMO Capital Markets upped their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Bank of America lifted their price target on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company reduced their price objective on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Finally, StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.26.

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.