Sterling Capital Management LLC Has $15.67 Million Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Sterling Capital Management LLC trimmed its stake in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,895 shares of the financial services provider's stock after selling 8,103 shares during the quarter. Sterling Capital Management LLC's holdings in Apollo Global Management were worth $15,673,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, insider Lb 2018 Gst Trust bought 607,725 shares of the firm's stock in a transaction on Friday, April 4th. The stock was bought at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the acquisition, the insider now directly owns 621,754 shares in the company, valued at $69,257,178.06. This represents a 4,331.92 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the company'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 completion of the sale, the chief financial officer now owns 377,164 shares of the company's stock, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

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Apollo Global Management Stock Performance

Shares of NYSE APO traded down $2.80 during midday trading on Wednesday, reaching $125.04. 1,110,379 shares of the company traded hands, compared to its average volume of 3,772,540. The stock has a 50-day moving average price of $140.13 and a 200 day moving average price of $153.47. 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 company has a market cap of $71.33 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently declared 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 1.48%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management's payout ratio is 25.31%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. TD Cowen dropped their price objective on shares of 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. 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. Barclays lowered their target price on Apollo Global Management from $196.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Keefe, Bruyette & Woods cut their price target on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company reduced their price target on Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average 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.