Apollo Global Management, Inc. (NYSE:APO) Stake Reduced by Panagora Asset Management Inc.

Panagora Asset Management Inc. cut its holdings in Apollo Global Management, Inc. (NYSE:APO) by 22.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 307,465 shares of the financial services provider’s stock after selling 88,436 shares during the quarter. Panagora Asset Management Inc. owned about 0.05% of Apollo Global Management worth $28,653,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APO. Perigon Wealth Management LLC raised its holdings in Apollo Global Management by 4.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,727 shares of the financial services provider’s stock worth $254,000 after buying an additional 107 shares during the period. CWM LLC grew its stake in Apollo Global Management by 3.0% during the 4th quarter. CWM LLC now owns 5,727 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 169 shares in the last quarter. Fulton Bank N.A. grew its stake in Apollo Global Management by 3.9% during the 4th quarter. Fulton Bank N.A. now owns 4,583 shares of the financial services provider’s stock valued at $427,000 after acquiring an additional 170 shares in the last quarter. Smithfield Trust Co grew its stake in Apollo Global Management by 9.6% during the 4th quarter. Smithfield Trust Co now owns 1,944 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 170 shares in the last quarter. Finally, Park Place Capital Corp grew its stake in Apollo Global Management by 2.1% during the 4th quarter. Park Place Capital Corp now owns 8,611 shares of the financial services provider’s stock valued at $802,000 after acquiring an additional 173 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total value of $3,338,700.00. Following the transaction, the chief financial officer now owns 359,445 shares in the company, valued at $40,002,634.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Whitney Chatterjee sold 12,000 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $111.10, for a total value of $1,333,200.00. Following the sale, the insider now owns 123,901 shares of the company’s stock, valued at approximately $13,765,401.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 30,000 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total value of $3,338,700.00. Following the completion of the sale, the chief financial officer now directly owns 359,445 shares in the company, valued at approximately $40,002,634.05. The disclosure for this sale can be found here. Insiders have sold a total of 1,292,000 shares of company stock worth $143,664,400 over the last 90 days. Insiders own 8.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on APO shares. Citigroup boosted their price target on Apollo Global Management from $111.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Jefferies Financial Group decreased their target price on Apollo Global Management from $119.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Wells Fargo & Company upped 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. Barclays cut their price target on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, JMP Securities reiterated a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.62.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $113.12 on Friday. The business’s fifty day moving average price is $111.48 and its two-hundred day moving average price is $102.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a market capitalization of $64.27 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 0.93 and a beta of 1.61. Apollo Global Management, Inc. has a fifty-two week low of $62.63 and a fifty-two week high of $117.15.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.463 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Apollo Global Management Company Profile

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.