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

Capital Research Global Investors cut its holdings in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 22.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the transaction, the chief financial officer now directly owns 377,164 shares of the company's stock, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Leon D. Black sold 500,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares of the company's stock, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company's stock.

Apollo Global Management Trading Up 5.0 %

Shares of APO traded up $6.39 during midday trading on Thursday, hitting $132.94. The stock had a trading volume of 1,520,395 shares, compared to its average volume of 3,804,108. The business has a 50-day simple moving average of $135.86 and a two-hundred day simple moving average of $153.05. The firm has a market cap of $75.84 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management's payout ratio is 25.31%.

Wall Street Analyst Weigh In

APO has been the subject of several analyst reports. Barclays reduced their price target on shares of Apollo Global Management from $196.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Raymond James started 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 target price for the company. TD Cowen cut their price target on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Keefe, Bruyette & Woods decreased their price objective 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. Finally, Morgan Stanley lowered their target price on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $156.00.

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.