Greenwich Investment Management Inc. reduced its stake in Apollo Global Management LLC (NYSE:APO) by 6.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,708 shares of the financial services provider’s stock after selling 5,545 shares during the quarter. Apollo Global Management makes up approximately 3.7% of Greenwich Investment Management Inc.’s investment portfolio, making the stock its 11th largest position. Greenwich Investment Management Inc.’s holdings in Apollo Global Management were worth $2,600,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of APO. CDAM UK Ltd purchased a new stake in Apollo Global Management in the 4th quarter valued at $77,206,000. Ameriprise Financial Inc. grew its holdings in Apollo Global Management by 4,894.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 746,881 shares of the financial services provider’s stock valued at $22,481,000 after buying an additional 731,928 shares in the last quarter. ING Groep NV grew its holdings in Apollo Global Management by 230.0% in the 3rd quarter. ING Groep NV now owns 660,000 shares of the financial services provider’s stock valued at $19,866,000 after buying an additional 460,000 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Apollo Global Management by 56.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,233,286 shares of the financial services provider’s stock valued at $41,278,000 after buying an additional 443,134 shares in the last quarter. Finally, Hillman Co. purchased a new stake in Apollo Global Management in the 4th quarter valued at $9,179,000. Institutional investors own 70.48% of the company’s stock.
Apollo Global Management LLC (NYSE APO) opened at $33.54 on Tuesday. Apollo Global Management LLC has a twelve month low of $22.91 and a twelve month high of $37.35. The company has a market capitalization of $6,763.55, a PE ratio of 10.78, a P/E/G ratio of 1.00 and a beta of 1.06. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.52.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 21st were given a $0.66 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $2.64 dividend on an annualized basis and a yield of 7.87%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.39. Apollo Global Management’s dividend payout ratio (DPR) is currently 84.89%.
APO has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Apollo Global Management from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Tuesday, December 19th. Citigroup cut Apollo Global Management from a “buy” rating to a “neutral” rating and set a $38.00 price target for the company. in a report on Friday, January 19th. Morgan Stanley upgraded Apollo Global Management from an “equal weight” rating to an “overweight” rating and set a $42.00 price target for the company in a report on Wednesday, January 3rd. Credit Suisse Group increased their price target on Apollo Global Management from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Finally, ValuEngine upgraded Apollo Global Management from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $36.50.
In other Apollo Global Management news, insider Joshua Harris sold 125,000 shares of the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $33.30, for a total value of $4,162,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Pauline Richards purchased 1,280 shares of Apollo Global Management stock in a transaction on Wednesday, February 7th. The stock was bought at an average cost of $33.66 per share, for a total transaction of $43,084.80. The disclosure for this purchase can be found here. Insiders sold a total of 5,091,842 shares of company stock worth $173,113,138 in the last ninety days. 4.11% of the stock is owned by corporate insiders.
Apollo Global Management Company Profile
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.
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