New Century Financial Group LLC Sells 454 Shares of Apollo Global Management, Inc. (NYSE:APO)

New Century Financial Group LLC decreased its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 19.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,924 shares of the financial services provider’s stock after selling 454 shares during the period. New Century Financial Group LLC’s holdings in Apollo Global Management were worth $325,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake 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 worth $225,600,000 after acquiring an additional 383,557 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Apollo Global Management by 12,086.7% during the 3rd quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock valued at $462,460,000 after purchasing an additional 367,195 shares in the last quarter. Holocene Advisors LP increased its position in shares of Apollo Global Management by 530.9% during the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock valued at $50,242,000 after buying an additional 338,472 shares during the period. Geode Capital Management LLC raised its stake 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 worth $713,230,000 after buying an additional 254,268 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Apollo Global Management by 43.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 767,014 shares of the financial services provider’s stock worth $95,808,000 after buying an additional 233,670 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Insider Transactions at Apollo Global Management

In related news, insider Leon D. Black sold 133,400 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the transaction, the insider now directly owns 35,471,373 shares in the company, valued at approximately $6,177,694,321.68. The trade was a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 5,000 shares of the firm’s 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 sale, the chief financial officer now owns 320,564 shares in the company, valued at approximately $55,332,552.04. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 196,600 shares of company stock worth $34,186,128 in the last three months. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Trading Up 1.3 %

Apollo Global Management stock opened at $172.02 on Friday. The business has a 50-day simple moving average of $169.66 and a two-hundred day simple moving average of $141.44. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The company has a market cap of $97.33 billion, a P/E ratio of 17.97, a P/E/G ratio of 1.36 and a beta of 1.63. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a dividend of $0.463 per share. This is an increase 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 dividend yield of 1.08%. Apollo Global Management’s payout ratio is presently 19.33%.

Analyst Upgrades and Downgrades

APO has been the topic of several research reports. Wells Fargo & Company dropped their price target on Apollo Global Management from $197.00 to $191.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Citigroup lifted their target price on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Barclays lifted their price objective on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. TD Cowen increased their target price on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Evercore ISI lifted their price target on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $164.32.

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.