Apollo Global Management, Inc. (NYSE:APO) Shares Sold by DRW Securities LLC

DRW Securities LLC decreased its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 75.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,842 shares of the financial services provider’s stock after selling 15,069 shares during the quarter. DRW Securities LLC’s holdings in Apollo Global Management were worth $800,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of APO. Kestra Private Wealth Services LLC purchased a new position in shares of Apollo Global Management in the 4th quarter worth $3,994,000. Fortress Financial Solutions LLC bought a new stake in Apollo Global Management during the fourth quarter worth approximately $685,000. Leavell Investment Management Inc. raised its holdings in Apollo Global Management by 39.8% during the fourth quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock worth $1,016,000 after purchasing an additional 1,750 shares in the last quarter. Amundi increased its holdings in shares of Apollo Global Management by 13.2% in the fourth quarter. Amundi now owns 801,260 shares of the financial services provider’s stock valued at $129,788,000 after buying an additional 93,451 shares in the last quarter. Finally, State of Michigan Retirement System purchased a new position in Apollo Global Management during the 4th quarter worth approximately $20,034,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on APO. Bank of America lifted their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 4th. Morgan Stanley upped their price objective on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Keefe, Bruyette & Woods decreased their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Citigroup cut their target price on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company lowered their price objective on shares of Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.16.

Apollo Global Management Trading Up 16.6 %

Shares of Apollo Global Management stock opened at $128.69 on Thursday. The firm’s 50 day moving average is $143.27 and its 200 day moving average is $153.45. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The firm has a market capitalization of $73.42 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.44%. Apollo Global Management’s payout ratio is presently 25.31%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares in the company, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.

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.