Apollo Global Management, Inc. (NYSE:APO) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC reduced its stake in Apollo Global Management, Inc. (NYSE:APO) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,443 shares of the financial services provider’s stock after selling 145 shares during the period. Cannell & Spears LLC’s holdings in Apollo Global Management were worth $5,854,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Apollo Global Management by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after purchasing an additional 3,691,700 shares during the period. Geode Capital Management LLC lifted its stake in 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 valued at $713,230,000 after buying an additional 254,268 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Apollo Global Management by 60.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after acquiring an additional 1,094,464 shares during the period. Bank of New York Mellon Corp grew its position in shares of Apollo Global Management by 42.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock worth $436,148,000 after acquiring an additional 782,700 shares during the last quarter. Finally, TD Asset Management Inc. increased its holdings in shares of Apollo Global Management by 13.6% in the 4th quarter. TD Asset Management Inc. now owns 2,473,237 shares of the financial services provider’s stock worth $408,480,000 after acquiring an additional 296,951 shares during the period. 77.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on APO shares. Keefe, Bruyette & Woods cut their target price 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. Morgan Stanley increased their target price 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. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. BMO Capital Markets upped their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company lowered their price objective on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. One research 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 data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $165.21.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the sale, the insider now directly owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. The trade was a 1.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value 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 $59,697,517.92. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

Apollo Global Management Trading Up 0.1 %

Shares of APO opened at $137.08 on Tuesday. The business’s 50-day moving average price is $151.87 and its 200 day moving average price is $153.76. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $78.20 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.35%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

About Apollo Global Management

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.