Intech Investment Management LLC Sells 5,988 Shares of Apollo Global Management, Inc. (NYSE:APO)

Intech Investment Management LLC lessened its holdings in Apollo Global Management, Inc. (NYSE:APO) by 27.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,705 shares of the financial services provider’s stock after selling 5,988 shares during the period. Intech Investment Management LLC’s holdings in Apollo Global Management were worth $2,594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC grew its position 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 valued at $713,230,000 after acquiring an additional 254,268 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Apollo Global Management by 60.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after acquiring an additional 1,094,464 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Apollo Global Management by 42.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock worth $436,148,000 after purchasing an additional 782,700 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of 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 worth $167,298,000 after purchasing an additional 4,892 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Apollo Global Management by 0.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 958,745 shares of the financial services provider’s stock worth $158,346,000 after purchasing an additional 6,955 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $143.38 on Thursday. The firm has a market capitalization of $81.80 billion, a P/E ratio of 19.61, a P/E/G ratio of 1.17 and a beta of 1.66. 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 stock’s 50-day simple moving average is $154.89 and its two-hundred day simple moving average is $151.59. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.29%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Piper Sandler boosted their price target on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. TD Cowen boosted their price target on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Morgan Stanley boosted their price target on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. BMO Capital Markets boosted their price target on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $165.74.

Insider Activity

In other news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management 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.