First Trust Advisors LP Trims Holdings in Apollo Global Management, Inc. (NYSE:APO)

First Trust Advisors LP lowered its position in Apollo Global Management, Inc. (NYSE:APO) by 46.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 144,211 shares of the financial services provider’s stock after selling 125,718 shares during the period. First Trust Advisors LP’s holdings in Apollo Global Management were worth $23,818,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Apollo Global Management by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock worth $7,454,560,000 after purchasing an additional 3,691,700 shares during the last quarter. Geode Capital Management LLC grew its position in Apollo Global Management by 64.6% during the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock worth $1,550,316,000 after purchasing an additional 3,695,979 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Apollo Global Management by 60.6% during the 4th 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 buying an additional 1,094,464 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Apollo Global Management by 245.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock valued at $438,196,000 after buying an additional 1,886,146 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Apollo Global Management by 42.1% in 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 buying an additional 782,700 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on APO shares. Raymond James began coverage on Apollo Global Management in a report on Thursday, April 10th. They issued a “strong-buy” rating and a $173.00 price target for the company. Piper Sandler lowered their price target on shares of Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Bank of America lifted their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 4th. TD Cowen lowered their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, Morgan Stanley cut their price target on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Apollo Global Management Stock Performance

NYSE:APO opened at $133.53 on Friday. The company has a market cap of $76.18 billion, a P/E ratio of 18.27, a P/E/G ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The company’s 50-day moving average price is $134.70 and its 200-day moving average price is $153.02. 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 firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is 25.31%.

Insider Transactions at Apollo Global Management

In other news, insider Lb 2018 Gst Trust bought 607,725 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the acquisition, the insider now directly owns 621,754 shares of the company’s stock, valued at $69,257,178.06. This trade represents a 4,331.92 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred on 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 directly owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Apollo Global Management Company 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.