Commonwealth Equity Services LLC Trims Stake in Apollo Global Management, Inc. (NYSE:APO)

Commonwealth Equity Services LLC lowered its holdings in Apollo Global Management, Inc. (NYSE:APO) by 5.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,123 shares of the financial services provider’s stock after selling 2,793 shares during the period. Commonwealth Equity Services LLC’s holdings in Apollo Global Management were worth $8,609,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of APO. CIBC Asset Management Inc lifted its position in Apollo Global Management by 4.9% during the third quarter. CIBC Asset Management Inc now owns 19,094 shares of the financial services provider’s stock valued at $2,385,000 after purchasing an additional 899 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Apollo Global Management by 4.1% during the 3rd quarter. Natixis Advisors LLC now owns 156,585 shares of the financial services provider’s stock worth $19,559,000 after acquiring an additional 6,197 shares during the last quarter. Claro Advisors LLC increased its stake in Apollo Global Management by 5.7% in the third quarter. Claro Advisors LLC now owns 1,869 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 100 shares during the last quarter. Quest Partners LLC purchased a new stake in Apollo Global Management during the third quarter valued at about $1,079,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Apollo Global Management during the third quarter worth about $2,125,000. Institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on APO shares. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods lowered their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Wells Fargo & Company decreased their target price on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Barclays upped their price target on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, TD Cowen lifted their price objective on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $165.74.

Apollo Global Management Stock Performance

Shares of APO stock opened at $143.38 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average price is $154.89 and its 200-day moving average price is $151.59. The stock has a market cap of $81.80 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month 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 issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

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.