DAVENPORT & Co LLC Has $621,000 Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

DAVENPORT & Co LLC cut its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,665 shares of the financial services provider’s stock after selling 629 shares during the quarter. DAVENPORT & Co LLC’s holdings in Apollo Global Management were worth $621,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its holdings in Apollo Global Management by 7,183.3% during the first quarter. Parkside Financial Bank & Trust now owns 437 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 431 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in Apollo Global Management during the first quarter valued at approximately $30,000. Zions Bancorporation N.A. acquired a new stake in Apollo Global Management during the first quarter valued at approximately $30,000. Sugarloaf Wealth Management LLC acquired a new stake in Apollo Global Management during the fourth quarter valued at approximately $31,000. Finally, Blue Trust Inc. raised its stake in shares of Apollo Global Management by 151.4% in the fourth quarter. Blue Trust Inc. now owns 367 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 221 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Stock Performance

APO stock opened at $116.09 on Tuesday. The business’s fifty day moving average is $110.16 and its 200-day moving average is $97.30. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.34. The company has a market cap of $65.95 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 0.97 and a beta of 1.63. Apollo Global Management, Inc. has a twelve month low of $57.50 and a twelve month high of $116.55.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 20.33% and a net margin of 15.86%. Equities research analysts forecast that Apollo Global Management, Inc. will post 7.48 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Friday, February 16th. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.45%.

Insider Activity

In related news, insider Leon D. Black sold 450,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the sale, the insider now owns 42,604,773 shares in the company, valued at approximately $4,716,774,418.83. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Leon D. Black sold 450,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total value of $49,819,500.00. Following the completion of the sale, the insider now owns 42,604,773 shares in the company, valued at approximately $4,716,774,418.83. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $111.44, for a total transaction of $55,720,000.00. Following the completion of the sale, the insider now owns 44,104,773 shares of the company’s stock, valued at approximately $4,915,035,903.12. The disclosure for this sale can be found here. Insiders have sold a total of 1,426,000 shares of company stock valued at $158,226,960 in the last 90 days. 8.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on APO shares. BMO Capital Markets lifted their target price on shares of Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday. Citigroup lifted their target price on shares of Apollo Global Management from $111.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. TD Cowen started coverage on shares of Apollo Global Management in a research note on Thursday, January 4th. They issued an “outperform” rating and a $115.00 target price for the company. Keefe, Bruyette & Woods lifted their target price on shares of Apollo Global Management from $122.00 to $131.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Finally, JPMorgan Chase & Co. began coverage on shares of Apollo Global Management in a research note on Wednesday, February 28th. They issued an “overweight” rating and a $122.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.62.

Apollo Global Management Profile

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.