Apollo Global Management, Inc. (NYSE:APO) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC reduced its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 16.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,713 shares of the financial services provider’s stock after selling 1,968 shares during the period. Townsquare Capital LLC’s holdings in Apollo Global Management were worth $1,604,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Apollo Global Management by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after buying an additional 3,691,700 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $1,550,316,000 after acquiring an additional 3,695,979 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Apollo Global Management by 60.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock worth $479,057,000 after acquiring an additional 1,094,464 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Apollo Global Management by 245.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock worth $438,196,000 after purchasing an additional 1,886,146 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Apollo Global Management by 42.1% during 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 purchasing an additional 782,700 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value 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 trade 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 can be accessed through this link. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of Apollo Global Management stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the transaction, the insider now owns 621,754 shares of the company’s stock, valued at $69,257,178.06. This represents a 4,331.92 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $125.45 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. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The firm has a market capitalization of $71.57 billion, a PE ratio of 17.16, a P/E/G ratio of 1.17 and a beta of 1.66. The business’s 50 day moving average price is $139.37 and its 200-day moving average price is $153.27.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Wall Street Analyst Weigh In

APO has been the topic of several analyst reports. Barclays cut their price target on Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Citigroup dropped their target price on Apollo Global Management from $191.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company decreased their price target on Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Finally, Raymond James started coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They issued a “strong-buy” rating and a $173.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

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.