Bleakley Financial Group LLC Sells 653 Shares of Apollo Global Management, Inc. (NYSE:APO)

Bleakley Financial Group LLC reduced its stake in Apollo Global Management, Inc. (NYSE:APO) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,829 shares of the financial services provider’s stock after selling 653 shares during the period. Bleakley Financial Group LLC’s holdings in Apollo Global Management were worth $3,110,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in APO. Geode Capital Management LLC lifted its stake in shares of Apollo Global Management by 4.7% in the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Apollo Global Management by 27.0% during the 3rd 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 purchasing an additional 383,557 shares during the period. Janus Henderson Group PLC lifted its position in Apollo Global Management by 0.4% during 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 purchasing an additional 4,892 shares in the last quarter. Swiss National Bank lifted its stake in shares of Apollo Global Management by 0.4% during the 3rd quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock valued at $147,670,000 after buying an additional 4,600 shares in the last quarter. Finally, Fort Pitt Capital Group LLC raised its position in shares of Apollo Global Management by 10.5% during 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 buying an additional 104,668 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on APO. The Goldman Sachs Group increased their price objective on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. TD Cowen boosted their price objective on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays raised their price target on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Citigroup raised their target price on shares of Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets raised their price objective 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.00.

Apollo Global Management Price Performance

APO stock opened at $164.76 on Friday. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The business has a 50 day simple moving average of $169.37 and a 200-day simple moving average of $144.39. The firm has a market capitalization of $93.22 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.37 and a beta of 1.63.

Apollo Global Management Cuts Dividend

The company also recently announced 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 1.12%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.33%.

Insider Buying and Selling

In other Apollo Global Management news, insider Leon D. Black sold 58,200 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the completion of the transaction, the insider now owns 35,104,773 shares in the company, valued at $6,086,114,495.01. The trade was a 0.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the sale, the chief financial officer now owns 320,564 shares in the company, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 196,600 shares of company stock worth $34,186,128. Company insiders own 8.50% of the company’s stock.

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.