BI Asset Management Fondsmaeglerselskab A S Lowers Stake in Apollo Global Management, Inc. (NYSE:APO)

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 27.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,024 shares of the financial services provider's stock after selling 23,796 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Apollo Global Management were worth $10,409,000 at the end of the most recent quarter.

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

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction dated 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 directly owns 377,164 shares in the company, valued at $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of Apollo Global Management stock in a transaction dated Friday, April 4th. The shares were bought at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the acquisition, the insider now owns 621,754 shares in the company, valued at approximately $69,257,178.06. This trade represents a 4,331.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 8.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup dropped their price target on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Barclays lowered their price target on Apollo Global Management from $196.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Morgan Stanley cut their price objective on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Bank of America lifted 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. Finally, TD Cowen reduced their price objective on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $156.00.

Apollo Global Management Price Performance

Apollo Global Management stock traded up $2.94 during midday trading on Wednesday, reaching $126.65. 3,812,561 shares of the stock traded hands, compared to its average volume of 3,812,992. The stock's fifty day moving average is $135.86 and its 200-day moving average is $153.05. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market cap of $72.25 billion, a P/E ratio of 17.33, a PEG ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a $0.4625 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.46%. Apollo Global Management's dividend payout ratio is currently 25.31%.

Apollo Global Management Company 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.