Commonwealth Equity Services LLC Sells 2,793 Shares of Apollo Global Management, Inc. (NYSE:APO)

Commonwealth Equity Services LLC lowered its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,123 shares of the financial services provider’s stock after selling 2,793 shares during the period. Commonwealth Equity Services LLC’s holdings in Apollo Global Management were worth $8,609,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in APO. Hopwood Financial Services Inc. purchased a new position in shares of Apollo Global Management in the fourth quarter worth $33,000. Kohmann Bosshard Financial Services LLC purchased a new position in Apollo Global Management in the 4th quarter worth about $34,000. Byrne Asset Management LLC purchased a new stake in shares of Apollo Global Management during the 4th quarter valued at about $37,000. Retirement Wealth Solutions LLC bought a new stake in shares of Apollo Global Management in the fourth quarter worth approximately $39,000. Finally, HM Payson & Co. purchased a new position in shares of Apollo Global Management during the fourth quarter valued at approximately $45,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. BMO Capital Markets lifted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods lowered their target price on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Piper Sandler boosted their price target on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $165.74.

Apollo Global Management Trading Up 4.3 %

Apollo Global Management stock opened at $143.38 on Thursday. 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 firm’s 50 day moving average price is $154.89 and its 200-day moving average price is $151.59. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The stock has a market cap of $81.80 billion, a P/E ratio of 19.61, a PEG ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given 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 1.29%. Apollo Global Management’s payout ratio is 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.