Capital Research Global Investors Sells 2,187,121 Shares of Apollo Global Management, Inc. (NYSE:APO)

Capital Research Global Investors lowered its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 22.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,452,716 shares of the financial services provider’s stock after selling 2,187,121 shares during the period. Capital Research Global Investors owned about 1.32% of Apollo Global Management worth $1,230,902,000 at the end of the most recent reporting period.

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

Insider Transactions at Apollo Global Management

In other news, insider Lb 2018 Gst Trust purchased 607,725 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares in the company, valued at approximately $69,257,178.06. This represents a 4,331.92 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the completion of the sale, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Up 1.3 %

NYSE:APO opened at $126.78 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $72.33 billion, a P/E ratio of 17.34, a P/E/G ratio of 1.17 and a beta of 1.66. The company’s 50-day simple moving average is $138.04 and its 200-day simple moving average is $153.25. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Analysts Set New Price Targets

APO has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on shares of Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Barclays cut their target price on Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Bank of America boosted their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 4th. Raymond James initiated coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They issued a “strong-buy” rating and a $173.00 price target on the stock. Finally, TD Cowen dropped their target price on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $156.00.

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.