Apollo Global Management, Inc. (NYSE:APO) Shares Sold by FFT Wealth Management LLC

FFT Wealth Management LLC decreased its holdings in Apollo Global Management, Inc. (NYSE:APO) by 13.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,419 shares of the financial services provider’s stock after selling 378 shares during the period. FFT Wealth Management LLC’s holdings in Apollo Global Management were worth $400,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in 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 valued at $436,148,000 after purchasing an additional 782,700 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Apollo Global Management by 813.6% in the 4th quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock valued at $89,646,000 after purchasing an additional 483,369 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Apollo Global Management by 27.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after buying an additional 383,557 shares during the period. Holocene Advisors LP increased its holdings in shares of Apollo Global Management by 530.9% during the 3rd quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock worth $50,242,000 after buying an additional 338,472 shares during the last quarter. Finally, New York State Teachers Retirement System purchased a new position in shares of Apollo Global Management in the 4th quarter worth $50,601,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Trading Down 1.6 %

APO opened at $145.48 on Wednesday. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $82.31 billion, a PE ratio of 19.90, a P/E/G ratio of 1.17 and a beta of 1.63. The firm’s fifty day moving average price is $164.68 and its 200 day moving average price is $148.75.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.27%. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the transaction, the chief financial officer now directly owns 320,564 shares in the company, valued at approximately $55,332,552.04. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the transaction, the insider now directly owns 35,471,373 shares of the company’s stock, valued at $6,177,694,321.68. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,600 shares of company stock valued at $34,977,528. Insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on APO. Keefe, Bruyette & Woods lowered their price target on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Barclays lifted their price target on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Morgan Stanley increased 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 report on Tuesday, February 11th. Finally, Citigroup lifted their target price on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $165.74.

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.