Moors & Cabot Inc. Trims Stake in Apollo Global Management, Inc. (NYSE:APO)

Moors & Cabot Inc. lessened its position in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 15.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 12,226 shares of the financial services provider's stock after selling 2,282 shares during the period. Moors & Cabot Inc.'s holdings in Apollo Global Management were worth $2,019,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC grew its stake in Apollo Global Management by 355.1% in the fourth quarter. Wealthfront Advisers LLC now owns 115,806 shares of the financial services provider's stock valued at $19,127,000 after acquiring an additional 90,357 shares during the period. GC Wealth Management RIA LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at approximately $221,000. Citizens Financial Group Inc. RI bought a new position in shares of Apollo Global Management in the fourth quarter valued at approximately $304,000. Sage Mountain Advisors LLC bought a new position in shares of Apollo Global Management in the fourth quarter valued at approximately $206,000. Finally, Independent Advisor Alliance lifted its holdings in shares of Apollo Global Management by 78.0% in the fourth quarter. Independent Advisor Alliance now owns 3,438 shares of the financial services provider's stock valued at $568,000 after purchasing an additional 1,506 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Analysts Set New Price Targets

APO has been the topic of a number of recent research reports. The Goldman Sachs Group raised their target price on Apollo Global Management from $161.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. TD Cowen raised their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a "buy" rating in a report on Monday, December 9th. BMO Capital Markets raised their target price on Apollo Global Management from $157.00 to $186.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Barclays raised their target price on Apollo Global Management from $174.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods dropped their target price on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Apollo Global Management has a consensus rating of "Moderate Buy" and a consensus target price of $165.74.

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Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Thursday, February 13th. The stock was 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 directly owns 377,164 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.50% of the company's stock.

Apollo Global Management Stock Performance

NYSE:APO traded down $4.76 during trading hours on Thursday, reaching $130.16. The stock had a trading volume of 4,018,032 shares, compared to its average volume of 3,728,011. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a 50 day simple moving average of $157.77 and a 200 day simple moving average of $150.78. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The stock has a market cap of $74.25 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Tuesday, February 18th. 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.