Desjardins Global Asset Management Inc. Decreases Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Desjardins Global Asset Management Inc. lowered its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 91.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,832 shares of the financial services provider’s stock after selling 28,974 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Apollo Global Management were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC raised its position in shares of Apollo Global Management by 4.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,727 shares of the financial services provider’s stock valued at $254,000 after buying an additional 107 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Apollo Global Management by 23.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 674 shares of the financial services provider’s stock valued at $60,000 after buying an additional 128 shares during the last quarter. MML Investors Services LLC raised its position in shares of Apollo Global Management by 1.3% in the second quarter. MML Investors Services LLC now owns 11,144 shares of the financial services provider’s stock valued at $856,000 after buying an additional 145 shares during the last quarter. Golden State Equity Partners raised its position in shares of Apollo Global Management by 5.0% in the third quarter. Golden State Equity Partners now owns 3,308 shares of the financial services provider’s stock valued at $297,000 after buying an additional 157 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Apollo Global Management by 3.4% in the third quarter. Proficio Capital Partners LLC now owns 5,096 shares of the financial services provider’s stock valued at $457,000 after buying an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $107.34 on Friday. Apollo Global Management, Inc. has a 52-week low of $57.50 and a 52-week high of $117.15. The firm has a fifty day moving average of $111.22 and a 200-day moving average of $98.28. The firm has a market capitalization of $60.99 billion, a P/E ratio of 12.76, a PEG ratio of 0.89 and a beta of 1.63. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.11. The business had revenue of $795.00 million during the quarter, compared to the consensus estimate of $823.27 million. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. As a group, analysts predict that Apollo Global Management, Inc. will post 7.49 EPS for the current year.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were paid a $0.43 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.72 annualized dividend and a dividend yield of 1.60%. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.45%.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, insider James C. Zelter sold 150,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $109.16, for a total transaction of $16,374,000.00. Following the transaction, the insider now directly owns 1,454,588 shares in the company, valued at approximately $158,782,826.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Apollo Global Management news, insider James C. Zelter sold 150,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $109.16, for a total transaction of $16,374,000.00. Following the transaction, the insider now directly owns 1,454,588 shares in the company, valued at approximately $158,782,826.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Leon D. Black sold 300,000 shares of the stock in a transaction on Saturday, February 24th. The shares were sold at an average price of $111.51, for a total transaction of $33,453,000.00. Following the transaction, the insider now owns 43,054,773 shares in the company, valued at $4,801,037,737.23. The disclosure for this sale can be found here. Insiders have sold 1,426,000 shares of company stock worth $158,226,960 in the last ninety days. 8.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Apollo Global Management from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods upped their price target on shares of Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Citigroup upped their price target on shares of Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. TD Cowen began coverage on shares of Apollo Global Management in a research report on Thursday, January 4th. They set an “outperform” rating and a $115.00 price target for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Apollo Global Management in a research report on Wednesday, February 28th. They set an “overweight” rating and a $122.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $113.25.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.