Cornercap Investment Counsel Inc. Sells 185 Shares of Apollo Global Management, Inc. (NYSE:APO)

Cornercap Investment Counsel Inc. trimmed its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,461 shares of the financial services provider’s stock after selling 185 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Apollo Global Management were worth $1,067,000 at the end of the most recent reporting period.

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

Apollo Global Management Stock Down 3.6 %

Shares of Apollo Global Management stock opened at $136.89 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The company has a market cap of $78.09 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company’s 50 day moving average is $152.47 and its 200 day moving average is $152.95.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a $0.4625 dividend. 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 1.35%. Apollo Global Management’s dividend payout ratio (DPR) is currently 25.31%.

Insider Buying and Selling

In other news, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. The trade was a 1.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 377,164 shares in the company, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on APO shares. Morgan Stanley upped their price objective on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Keefe, Bruyette & Woods cut their target price on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. BMO Capital Markets lifted their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. TD Cowen upped their price objective on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company decreased their target price on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. 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’s stock. According to MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus price target of $165.21.

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.