Apollo Global Management, Inc. (NYSE:APO) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its position in shares of Apollo Global Management, Inc. (NYSE:APO – Get Rating) by 13.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 61,057 shares of the financial services provider’s stock after selling 9,505 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Apollo Global Management were worth $2,839,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in APO. Huntington National Bank lifted its holdings in shares of Apollo Global Management by 4.0% during the third quarter. Huntington National Bank now owns 4,159 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 159 shares during the period. Ten Capital Wealth Advisors LLC boosted its holdings in Apollo Global Management by 14.1% in the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 1,335 shares of the financial services provider’s stock worth $62,000 after buying an additional 165 shares during the last quarter. Cannell & Co. increased its stake in Apollo Global Management by 0.6% during the 3rd quarter. Cannell & Co. now owns 35,678 shares of the financial services provider’s stock worth $1,659,000 after buying an additional 229 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Apollo Global Management by 1.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,420 shares of the financial services provider’s stock valued at $1,182,000 after acquiring an additional 256 shares during the last quarter. Finally, Wellington Shields & Co. LLC lifted its position in shares of Apollo Global Management by 2.8% in the second quarter. Wellington Shields & Co. LLC now owns 9,557 shares of the financial services provider’s stock valued at $463,000 after acquiring an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 68.98% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 30,000 shares of the stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $70.44, for a total transaction of $2,113,200.00. Following the completion of the sale, the chief financial officer now owns 414,241 shares in the company, valued at $29,179,136.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Apollo Global Management news, insider John J. Suydam sold 33,333 shares of the company’s stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $70.00, for a total transaction of $2,333,310.00. Following the completion of the transaction, the insider now owns 328,962 shares in the company, valued at approximately $23,027,340. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 30,000 shares of Apollo Global Management stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $70.44, for a total transaction of $2,113,200.00. Following the completion of the sale, the chief financial officer now directly owns 414,241 shares in the company, valued at approximately $29,179,136.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,667 shares of company stock valued at $7,898,208. Insiders own 15.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on APO shares. Barclays boosted their price target on Apollo Global Management from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, February 10th. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $84.00 to $88.00 in a report on Friday, February 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Apollo Global Management from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, November 15th. Oppenheimer boosted their price target on shares of Apollo Global Management to $74.00 in a research note on Wednesday, December 14th. Finally, TheStreet raised shares of Apollo Global Management from a “d+” rating to a “c” rating in a research report on Thursday, February 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.44.

Apollo Global Management Price Performance

APO stock opened at $60.29 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $34.50 billion, a P/E ratio of -10.80, a PEG ratio of 0.62 and a beta of 1.72. The business has a 50 day simple moving average of $69.41 and a 200-day simple moving average of $61.97. Apollo Global Management, Inc. has a twelve month low of $45.62 and a twelve month high of $74.63.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Tuesday, February 21st were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Friday, February 17th. Apollo Global Management’s dividend payout ratio is currently -28.67%.

About Apollo Global Management

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Apollo Global Management, Inc provides asset management services. It offers its clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. The company was founded in 1990 and is headquartered in New York, NY.