Meeder Advisory Services Inc. Decreases Stake in Apollo Global Management, Inc. (NYSE:APO)

Meeder Advisory Services Inc. cut its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 1.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,823 shares of the financial services provider’s stock after selling 105 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Apollo Global Management were worth $1,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Kestra Private Wealth Services LLC acquired a new position in shares of Apollo Global Management in the fourth quarter valued at about $3,994,000. Fortress Financial Solutions LLC purchased a new stake in Apollo Global Management in the fourth quarter valued at approximately $685,000. Leavell Investment Management Inc. increased its holdings in Apollo Global Management by 39.8% in the 4th quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock worth $1,016,000 after buying an additional 1,750 shares during the period. Amundi raised its position in Apollo Global Management by 13.2% during the 4th quarter. Amundi now owns 801,260 shares of the financial services provider’s stock worth $129,788,000 after buying an additional 93,451 shares during the last quarter. Finally, State of Michigan Retirement System acquired a new stake in Apollo Global Management during the 4th quarter valued at approximately $20,034,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company reduced 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. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Barclays upped their target price 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. BMO Capital Markets boosted their price target on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Morgan Stanley raised their price objective on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.74.

Apollo Global Management Price Performance

NYSE:APO opened at $141.68 on Thursday. The firm has a market cap of $80.83 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The stock has a 50 day moving average of $150.71 and a two-hundred day moving average of $153.85. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. 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 Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction 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 approximately $59,697,517.92. This represents a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the transaction, the insider now directly owns 34,604,773 shares in the company, valued at $4,913,877,766. This trade 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 owned by corporate insiders.

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.