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

Gabelli Funds LLC decreased its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 9.5% in the second quarter, Holdings Channel reports. The institutional investor 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.

A number of other institutional investors have also recently modified their holdings of APO. Townsquare Capital LLC grew its holdings in shares of Apollo Global Management by 15.3% during the first quarter. Townsquare Capital LLC now owns 11,196 shares of the financial services provider’s stock valued at $1,533,000 after buying an additional 1,483 shares during the last quarter. Independent Advisor Alliance boosted its stake in Apollo Global Management by 4.0% during the 1st quarter. Independent Advisor Alliance now owns 3,574 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 136 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Apollo Global Management by 3.1% in the 1st quarter. Public Sector Pension Investment Board now owns 119,552 shares of the financial services provider’s stock worth $16,371,000 after purchasing an additional 3,552 shares in the last quarter. Telligent Fund LP purchased a new position in shares of Apollo Global Management in the first quarter worth $822,000. Finally, Resona Asset Management Co. Ltd. lifted its holdings in shares of Apollo Global Management by 7.6% during the first quarter. Resona Asset Management Co. Ltd. now owns 125,790 shares of the financial services provider’s stock valued at $17,226,000 after purchasing an additional 8,921 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Up 4.8%

Shares of APO stock opened at $143.97 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.33. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $179.48. The stock has a market cap 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 company has a 50 day simple moving average of $128.36 and a two-hundred day simple moving average of $135.62.

Apollo Global Management Announces Dividend

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

Insider Buying and Selling

In related news, CFO Martin Kelly sold 6,000 shares of Apollo Global Management stock in a transaction on Monday, December 1st. The stock was sold at an average price of $131.41, for a total transaction of $788,460.00. Following the transaction, the chief financial officer directly owned 325,604 shares in the company, valued at approximately $42,787,621.64. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Apollo Global Management Company 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.