Captrust Financial Advisors Cuts Stake in Apollo Global Management, Inc. (NYSE:APO)

Captrust Financial Advisors cut its stake in Apollo Global Management, Inc. (NYSE:APO) by 28.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,009 shares of the financial services provider’s stock after selling 1,179 shares during the period. Captrust Financial Advisors’ holdings in Apollo Global Management were worth $376,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of APO. Massachusetts Financial Services Co. MA acquired a new position in shares of Apollo Global Management in the 2nd quarter valued at $62,972,000. Marshall Wace LLP boosted its holdings in Apollo Global Management by 74.5% in the second quarter. Marshall Wace LLP now owns 955,673 shares of the financial services provider’s stock valued at $112,836,000 after acquiring an additional 408,105 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Apollo Global Management by 27.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after acquiring an additional 383,557 shares during the period. International Assets Investment Management LLC grew its position in Apollo Global Management by 12,086.7% during the third quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock valued at $462,460,000 after acquiring an additional 367,195 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in Apollo Global Management by 84.4% during the second quarter. Point72 Asset Management L.P. now owns 637,790 shares of the financial services provider’s stock worth $75,304,000 after acquiring an additional 291,925 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wolfe Research initiated coverage on Apollo Global Management in a report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group raised their target price on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Piper Sandler assumed coverage on shares of Apollo Global Management in a research report on Tuesday, November 19th. They set an “overweight” rating and a $188.00 price target for the company. Finally, Barclays raised their price objective on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $160.89.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. The trade was a 1.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Leon D. Black sold 58,200 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the sale, the insider now owns 35,104,773 shares in the company, valued at approximately $6,086,114,495.01. This trade represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 196,600 shares of company stock worth $34,186,128. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Trading Up 0.0 %

NYSE APO opened at $176.43 on Friday. The company has a market capitalization of $99.83 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 1.84 and a beta of 1.63. 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 12 month low of $89.76 and a 12 month high of $189.49. The company’s fifty day moving average price is $157.91 and its two-hundred day moving average price is $130.89.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a dividend of $0.463 per share. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.05%. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.33%.

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.