Brandywine Global Investment Management LLC Lowers Holdings in Apollo Global Management, Inc. (NYSE:APO)

Brandywine Global Investment Management LLC cut its stake in Apollo Global Management, Inc. (NYSE:APO) by 7.4% during the fourth quarter, HoldingsChannel reports. The fund owned 296,614 shares of the financial services provider’s stock after selling 23,661 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Apollo Global Management were worth $48,989,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC acquired a new stake in Apollo Global Management during the 3rd quarter worth about $215,000. D.A. Davidson & CO. raised its position in Apollo Global Management by 109.2% during the third quarter. D.A. Davidson & CO. now owns 9,630 shares of the financial services provider’s stock worth $1,203,000 after acquiring an additional 5,026 shares during the period. Townsquare Capital LLC boosted its stake in shares of Apollo Global Management by 12.0% in the third quarter. Townsquare Capital LLC now owns 11,681 shares of the financial services provider’s stock worth $1,459,000 after acquiring an additional 1,252 shares during the last quarter. Northwest & Ethical Investments L.P. grew its stake in Apollo Global Management by 11.7% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 3,831 shares of the financial services provider’s stock valued at $479,000 after acquiring an additional 400 shares in the last quarter. Finally, Point72 Europe London LLP lifted its position in Apollo Global Management by 98.1% during the third quarter. Point72 Europe London LLP now owns 94,701 shares of the financial services provider’s stock worth $11,829,000 after buying an additional 46,894 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on APO shares. Keefe, Bruyette & Woods cut their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. TD Cowen boosted their price objective on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. Morgan Stanley lifted their price target on shares of Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. BMO Capital Markets upped their price objective on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company dropped their target price on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.21.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the sale, the insider now directly owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Stock Down 3.6 %

Shares of NYSE:APO opened at $136.89 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The firm has a 50 day simple moving average of $152.47 and a 200-day simple moving average of $153.27. The company has a market capitalization of $78.09 billion, a PE ratio of 18.73, a P/E/G ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a $0.4625 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.35%. Apollo Global Management’s dividend payout ratio (DPR) is 25.31%.

Apollo Global Management 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.