Stonegate Investment Group LLC Sells 109 Shares of Apollo Global Management, Inc. (NYSE:APO)

Stonegate Investment Group LLC reduced its stake in Apollo Global Management, Inc. (NYSE:APOFree Report) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,821 shares of the financial services provider’s stock after selling 109 shares during the period. Stonegate Investment Group LLC’s holdings in Apollo Global Management were worth $915,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APO. Vanguard Group Inc. increased its stake in shares of Apollo Global Management by 87.8% in the first quarter. Vanguard Group Inc. now owns 37,374,072 shares of the financial services provider’s stock worth $2,316,818,000 after buying an additional 17,476,830 shares during the period. FMR LLC raised its stake in shares of Apollo Global Management by 18.9% during the third quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock valued at $892,973,000 after acquiring an additional 1,584,201 shares during the last quarter. State Street Corp raised its stake in shares of Apollo Global Management by 2.3% during the second quarter. State Street Corp now owns 9,723,819 shares of the financial services provider’s stock valued at $746,887,000 after acquiring an additional 218,332 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Apollo Global Management by 1.0% during the first quarter. Clearbridge Investments LLC now owns 7,859,123 shares of the financial services provider’s stock worth $487,187,000 after purchasing an additional 78,795 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Apollo Global Management by 11.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,808,500 shares of the financial services provider’s stock valued at $493,187,000 after purchasing an additional 827,935 shares during the period. Institutional investors own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In other news, insider James C. Zelter sold 150,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $109.16, for a total transaction of $16,374,000.00. Following the transaction, the insider now directly owns 1,454,588 shares of the company’s stock, valued at $158,782,826.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Martin Kelly sold 14,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the sale, the chief financial officer now owns 366,572 shares of the company’s stock, valued at approximately $39,989,339.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James C. Zelter sold 150,000 shares of Apollo Global Management stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.16, for a total transaction of $16,374,000.00. Following the completion of the sale, the insider now owns 1,454,588 shares of the company’s stock, valued at $158,782,826.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,426,000 shares of company stock valued at $158,226,960. 8.70% of the stock is owned by corporate insiders.

Apollo Global Management Trading Down 1.7 %

NYSE APO opened at $110.59 on Wednesday. The stock’s fifty day moving average price is $109.06 and its 200-day moving average price is $96.68. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34. The stock has a market cap of $62.83 billion, a P/E ratio of 13.15, a P/E/G ratio of 0.85 and a beta of 1.63. Apollo Global Management, Inc. has a 12 month low of $57.50 and a 12 month high of $116.55.

Apollo Global Management (NYSE:APOGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.64 by $0.11. The company had revenue of $795.00 million for the quarter, compared to the consensus estimate of $823.27 million. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. As a group, equities analysts forecast that Apollo Global Management, Inc. will post 7.48 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were issued a $0.43 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.72 dividend on an annualized basis and a yield of 1.56%. Apollo Global Management’s payout ratio is currently 20.45%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on Apollo Global Management from $118.00 to $122.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Keefe, Bruyette & Woods upped their price objective on shares of Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Morgan Stanley lifted their target price on shares of Apollo Global Management from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. TD Cowen initiated coverage on shares of Apollo Global Management in a research report on Thursday, January 4th. They set an “outperform” rating and a $115.00 price target on the stock. Finally, JPMorgan Chase & Co. initiated coverage on Apollo Global Management in a research report on Wednesday, February 28th. They set an “overweight” rating and a $122.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and an average target price of $107.92.

View Our Latest Stock Report on APO

Apollo Global Management Profile

(Free Report)

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.

Further Reading

Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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