SpiderRock Advisors LLC Decreases Stake in Apollo Global Management, Inc. (NYSE:APO)

SpiderRock Advisors LLC trimmed its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 1.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,175 shares of the financial services provider’s stock after selling 167 shares during the period. SpiderRock Advisors LLC’s holdings in Apollo Global Management were worth $1,146,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC purchased a new stake in shares of Apollo Global Management in the 3rd quarter valued at approximately $438,000. Leavell Investment Management Inc. increased its holdings in Apollo Global Management by 4.8% in the third quarter. Leavell Investment Management Inc. now owns 4,400 shares of the financial services provider’s stock valued at $550,000 after buying an additional 200 shares during the last quarter. TFB Advisors LLC raised its stake in Apollo Global Management by 6.2% in the third quarter. TFB Advisors LLC now owns 19,028 shares of the financial services provider’s stock valued at $2,377,000 after buying an additional 1,109 shares in the last quarter. Jackson Square Capital LLC acquired a new stake in Apollo Global Management in the third quarter valued at $280,000. Finally, Blake Schutter Theil Wealth Advisors LLC purchased a new stake in Apollo Global Management during the 3rd quarter worth about $248,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on APO. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. UBS Group boosted their price objective on shares of Apollo Global Management from $117.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Argus lowered their target price on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Wolfe Research initiated coverage on shares of Apollo Global Management in a research note on Wednesday, September 25th. They set an “outperform” rating and a $139.00 price target on the stock. Finally, Redburn Atlantic initiated coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.83.

Apollo Global Management Trading Up 1.4 %

Shares of APO stock opened at $162.00 on Monday. The company has a market capitalization of $92.26 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 1.80 and a beta of 1.59. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $132.07 and its two-hundred day moving average is $120.80. Apollo Global Management, Inc. has a twelve month low of $83.88 and a twelve month high of $166.72.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be given a $0.463 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.14%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is 19.33%.

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.