Tidal Investments LLC trimmed its stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 23.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,400 shares of the financial services provider's stock after selling 5,639 shares during the period. Tidal Investments LLC's holdings in Apollo Global Management were worth $2,298,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Apollo Global Management by 4.7% in the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider's stock worth $713,230,000 after purchasing an additional 254,268 shares in the last quarter. Legal & General Group Plc increased its stake in Apollo Global Management by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider's stock valued at $517,527,000 after buying an additional 126,859 shares during the period. TD Asset Management Inc lifted its position in Apollo Global Management by 3.8% in the 2nd quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider's stock worth $318,522,000 after buying an additional 97,797 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Apollo Global Management by 27.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider's stock valued at $225,600,000 after buying an additional 383,557 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of Apollo Global Management by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider's stock valued at $167,298,000 after acquiring an additional 4,892 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Apollo Global Management
In other Apollo Global Management news, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $174.16, for a total value of $23,232,944.00. Following the completion of the transaction, the insider now owns 35,471,373 shares in the company, valued at approximately $6,177,694,321.68. The trade was a 0.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the sale, the chief financial officer now owns 320,564 shares in the company, valued at $55,332,552.04. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 196,600 shares of company stock valued at $34,186,128 in the last ninety days. Insiders own 8.50% of the company's stock.
Wall Street Analysts Forecast Growth
APO has been the subject of a number of recent research reports. Barclays raised their price target on Apollo Global Management from $174.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. Evercore ISI lifted their price target on shares of Apollo Global Management from $150.00 to $174.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. increased their target price on Apollo Global Management from $129.00 to $143.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. Redburn Atlantic started coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a "buy" rating and a $153.00 price objective on the stock. Finally, StockNews.com cut shares of Apollo Global Management from a "hold" rating to a "sell" rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $160.89.
Read Our Latest Analysis on Apollo Global Management
Apollo Global Management Price Performance
NYSE:APO traded down $1.83 during trading hours on Tuesday, reaching $176.32. The company had a trading volume of 6,779,524 shares, compared to its average volume of 2,867,871. 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 50-day moving average of $158.79 and a two-hundred day moving average of $131.56. Apollo Global Management, Inc. has a one year low of $89.76 and a one year high of $189.49. The firm has a market capitalization of $99.76 billion, a PE ratio of 18.62, a PEG ratio of 1.84 and a beta of 1.63.
Apollo Global Management Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were given a dividend of $0.463 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.05%. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio (DPR) is 19.33%.
About Apollo Global Management
(
Free Report)
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.
Further Reading
Before you consider Apollo Global Management, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apollo Global Management wasn't on the list.
While Apollo Global Management currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
