Harvest Fund Management Co. Ltd Has $390,000 Position in Apollo Global Management, Inc. (NYSE:APO)

Harvest Fund Management Co. Ltd lowered its position in Apollo Global Management, Inc. (NYSE:APO) by 19.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,189 shares of the financial services provider’s stock after selling 1,006 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Apollo Global Management were worth $390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC acquired a new position in Apollo Global Management during the fourth quarter valued at approximately $31,000. CVA Family Office LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter worth $34,000. Blue Trust Inc. grew its stake in shares of Apollo Global Management by 151.4% in the fourth quarter. Blue Trust Inc. now owns 367 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 221 shares during the last quarter. Hanseatic Management Services Inc. acquired a new stake in shares of Apollo Global Management in the third quarter worth $39,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter worth $50,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE APO traded down $1.05 during mid-day trading on Wednesday, reaching $112.72. The company had a trading volume of 1,379,027 shares, compared to its average volume of 2,344,884. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.54 and a current ratio of 1.54. Apollo Global Management, Inc. has a one year low of $57.50 and a one year high of $117.15. The firm has a market cap of $64.04 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 0.92 and a beta of 1.63. The business’s 50-day simple moving average is $111.28 and its 200 day simple moving average is $98.88.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. Apollo Global Management had a return on equity of 20.33% and a net margin of 15.86%. The company had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $823.27 million. On average, research analysts predict that Apollo Global Management, Inc. will post 7.44 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Friday, February 16th. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.45%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on APO. Wells Fargo & Company raised their target price on Apollo Global Management from $110.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Morgan Stanley upped their price objective on Apollo Global Management from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Citigroup upped their price objective on Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Keefe, Bruyette & Woods boosted their target price on Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Finally, BMO Capital Markets boosted their target price on Apollo Global Management from $111.00 to $122.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.33.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $111.44, for a total value of $55,720,000.00. Following the sale, the insider now directly owns 44,104,773 shares of the company’s stock, valued at $4,915,035,903.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $111.44, for a total transaction of $55,720,000.00. Following the sale, the insider now directly owns 44,104,773 shares of the company’s stock, valued at $4,915,035,903.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 14,000 shares of Apollo Global Management stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $109.09, for a total value of $1,527,260.00. Following the sale, the chief financial officer now directly owns 366,572 shares in the company, valued at $39,989,339.48. The disclosure for this sale can be found here. Insiders have sold 1,426,000 shares of company stock valued at $158,226,960 over the last ninety days. 8.70% of the stock is owned by corporate insiders.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.