Cinctive Capital Management LP Boosts Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Cinctive Capital Management LP grew its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 739.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,103 shares of the financial services provider’s stock after purchasing an additional 63,509 shares during the period. Cinctive Capital Management LP’s holdings in Apollo Global Management were worth $11,909,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hopwood Financial Services Inc. purchased a new stake in shares of Apollo Global Management in the fourth quarter valued at $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Apollo Global Management during the 4th quarter valued at about $34,000. Byrne Asset Management LLC acquired a new position in shares of Apollo Global Management during the 4th quarter valued at about $37,000. Retirement Wealth Solutions LLC purchased a new position in shares of Apollo Global Management during the 4th quarter worth about $39,000. Finally, HM Payson & Co. acquired a new stake in shares of Apollo Global Management in the fourth quarter worth approximately $45,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apollo Global Management

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on APO shares. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Wells Fargo & Company cut their target price on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. BMO Capital Markets boosted their price target on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. TD Cowen raised 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. Finally, Keefe, Bruyette & Woods decreased their target price on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $165.21.

Apollo Global Management Price Performance

Shares of APO opened at $138.30 on Wednesday. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month 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 stock has a fifty day moving average price of $151.25 and a 200 day moving average price of $153.93. The company has a market cap of $78.90 billion, a P/E ratio of 18.92, a PEG ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders 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 annualized dividend and a dividend yield of 1.34%. Apollo Global Management’s dividend payout ratio is currently 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.