Commonwealth Equity Services LLC Sells 2,793 Shares of Apollo Global Management, Inc. (NYSE:APO)

Commonwealth Equity Services LLC cut its stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,123 shares of the financial services provider's stock after selling 2,793 shares during the quarter. Commonwealth Equity Services LLC's holdings in Apollo Global Management were worth $8,609,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Apollo Global Management by 4.7% during the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider's stock valued at $713,230,000 after acquiring an additional 254,268 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Apollo Global Management by 60.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider's stock valued at $479,057,000 after buying an additional 1,094,464 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Apollo Global Management by 42.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider's stock valued at $436,148,000 after buying an additional 782,700 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Apollo Global Management by 0.4% in the third quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider's stock valued at $167,298,000 after buying an additional 4,892 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Apollo Global Management by 0.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 958,745 shares of the financial services provider's stock valued at $158,346,000 after buying an additional 6,955 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of analysts recently commented on the company. BMO Capital Markets lifted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. TD Cowen boosted their target price on Apollo Global Management from $178.00 to $230.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. StockNews.com lowered Apollo Global Management from a "hold" rating to a "sell" rating in a research report on Tuesday, December 10th. Morgan Stanley upped their price objective on Apollo Global Management from $169.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company dropped their price objective on Apollo Global Management from $187.00 to $177.00 and set an "overweight" rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $165.21.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the sale, the chief financial officer now directly owns 377,164 shares of the company's stock, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the stock in a transaction 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 sale, the insider now directly owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This trade represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.50% of the company's stock.

Apollo Global Management Stock Performance

NYSE APO traded down $1.24 on Friday, reaching $143.53. The stock had a trading volume of 4,012,222 shares, compared to its average volume of 3,379,455. 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 firm has a fifty day moving average of $154.31 and a two-hundred day moving average of $152.02. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49. The company has a market cap of $81.88 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

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 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 of this dividend was Tuesday, February 18th. Apollo Global Management's dividend payout ratio is 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.