Gabelli Funds LLC Reduces Position in Apollo Global Management Inc. $APO

Gabelli Funds LLC trimmed its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 9.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,344 shares of the financial services provider’s stock after selling 4,363 shares during the quarter. Gabelli Funds LLC’s holdings in Apollo Global Management were worth $5,865,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Activest Wealth Management grew its position in Apollo Global Management by 875.0% in the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 175 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in Apollo Global Management by 6,900.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 207 shares during the period. Nemes Rush Group LLC purchased a new stake in shares of Apollo Global Management during the second quarter valued at approximately $30,000. Andra AP fonden bought a new position in shares of Apollo Global Management in the second quarter worth approximately $31,000. Finally, Cary Street Partners Investment Advisory LLC increased its stake in shares of Apollo Global Management by 44.0% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 252 shares of the financial services provider’s stock worth $36,000 after buying an additional 77 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 6,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $131.41, for a total transaction of $788,460.00. Following the sale, the chief financial officer owned 325,604 shares in the company, valued at approximately $42,787,621.64. The trade was a 1.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Up 4.8%

Shares of NYSE:APO opened at $143.97 on Wednesday. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $179.48. The firm has a market capitalization of $83.56 billion, a P/E ratio of 21.05, a P/E/G ratio of 1.36 and a beta of 1.61. The stock has a 50 day moving average price of $128.36 and a 200-day moving average price of $135.62. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.49 and a current ratio of 1.49.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Monday, November 17th were issued a $0.51 dividend. The ex-dividend date was Monday, November 17th. This represents a $2.04 dividend on an annualized basis and a yield of 1.4%. Apollo Global Management’s dividend payout ratio is 29.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on APO shares. Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a research report on Monday. Evercore ISI raised their target price on Apollo Global Management from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Keefe, Bruyette & Woods boosted their price target on Apollo Global Management from $162.00 to $173.00 and gave the company an “outperform” rating in a report on Wednesday, November 5th. Morgan Stanley upgraded Apollo Global Management from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $151.00 to $180.00 in a report on Thursday, November 20th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $155.00 price objective on shares of Apollo Global Management in a research report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average target price of $162.85.

Apollo Global Management 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.