Greenland Capital Management LP cut its stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 77.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,097 shares of the financial services provider's stock after selling 13,738 shares during the quarter. Greenland Capital Management LP's holdings in Apollo Global Management were worth $677,000 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. Quantinno Capital Management LP lifted its holdings in Apollo Global Management by 50.9% in the 3rd quarter. Quantinno Capital Management LP now owns 18,854 shares of the financial services provider's stock worth $2,355,000 after purchasing an additional 6,358 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of Apollo Global Management by 61.7% during the third quarter. EP Wealth Advisors LLC now owns 5,456 shares of the financial services provider's stock valued at $681,000 after buying an additional 2,081 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Apollo Global Management by 11.9% in the third quarter. National Bank of Canada FI now owns 9,089 shares of the financial services provider's stock worth $1,135,000 after buying an additional 970 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Apollo Global Management by 3.1% during the third quarter. Orion Portfolio Solutions LLC now owns 12,791 shares of the financial services provider's stock worth $1,598,000 after acquiring an additional 388 shares during the last quarter. Finally, MML Investors Services LLC grew its stake in Apollo Global Management by 23.3% during the third quarter. MML Investors Services LLC now owns 14,629 shares of the financial services provider's stock valued at $1,827,000 after acquiring an additional 2,767 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on APO shares. Morgan Stanley boosted their target price on Apollo Global Management from $169.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. Piper Sandler decreased their price objective on shares of Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Citigroup cut their price target 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, April 8th. TD Cowen reduced their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Finally, Bank of America boosted their price target on Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $157.95.
View Our Latest Analysis on APO
Apollo Global Management Stock Down 0.7 %
Shares of APO stock traded down $0.87 during trading hours on Monday, reaching $125.05. 1,090,743 shares of the company's stock were exchanged, compared to its average volume of 4,224,575. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. 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 stock has a market cap of $71.34 billion, a PE ratio of 17.11, a PEG ratio of 1.17 and a beta of 1.66. The stock's fifty day moving average price is $141.67 and its two-hundred day moving average price is $153.65.
Apollo Global Management Cuts Dividend
The business also recently declared 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. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.48%. Apollo Global Management's payout ratio is 25.31%.
Insider Activity
In related news, insider Lb 2018 Gst Trust purchased 607,725 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the purchase, the insider now owns 621,754 shares of the company's stock, valued at $69,257,178.06. This represents a 4,331.92 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the firm'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 transaction, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company's stock.
About Apollo Global Management
(
Free Report)
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.
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