Mariner LLC Has $59.90 Million Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Mariner LLC cut its holdings in Apollo Global Management, Inc. (NYSE:APO) by 80.5% during the fourth quarter, HoldingsChannel reports. The firm owned 361,393 shares of the financial services provider’s stock after selling 1,495,772 shares during the period. Mariner LLC’s holdings in Apollo Global Management were worth $59,898,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of APO. MML Investors Services LLC boosted its holdings in Apollo Global Management by 23.3% in the 3rd quarter. MML Investors Services LLC now owns 14,629 shares of the financial services provider’s stock valued at $1,827,000 after purchasing an additional 2,767 shares during the period. Coldstream Capital Management Inc. grew its position in Apollo Global Management by 37.2% during the third quarter. Coldstream Capital Management Inc. now owns 2,587 shares of the financial services provider’s stock worth $346,000 after buying an additional 702 shares in the last quarter. World Investment Advisors LLC increased its stake in Apollo Global Management by 1.8% during the third quarter. World Investment Advisors LLC now owns 6,823 shares of the financial services provider’s stock valued at $852,000 after acquiring an additional 119 shares during the period. Sfmg LLC raised its holdings in Apollo Global Management by 1.1% in the 3rd quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock valued at $902,000 after acquiring an additional 79 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Apollo Global Management in the 3rd quarter worth approximately $503,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $125.72 on Tuesday. The firm has a 50 day simple moving average of $140.87 and a 200 day simple moving average of $153.65. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week 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 firm has a market cap of $71.72 billion, a P/E ratio of 17.20, a P/E/G ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The company also recently announced 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 of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.47%. Apollo Global Management’s payout ratio is currently 25.31%.

Insider Activity

In other Apollo Global Management news, insider Lb 2018 Gst Trust bought 607,725 shares of the stock in a transaction on Friday, April 4th. The stock was purchased at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the acquisition, the insider now owns 621,754 shares of the company’s stock, valued at approximately $69,257,178.06. The trade was a 4,331.92 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction, the chief financial officer now directly owns 377,164 shares in the company, 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. 8.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on APO. Citigroup cut their target price on Apollo Global Management from $191.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on shares of Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. TD Cowen decreased 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 report on Wednesday, April 9th. Barclays dropped their price target on shares of Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Finally, Bank of America lifted their price objective on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.00.

Apollo Global Management 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.