Apollo Global Management, Inc. (NYSE:APO) Shares Sold by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC lessened its position in Apollo Global Management, Inc. (NYSE:APO) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 322,604 shares of the financial services provider’s stock after selling 329 shares during the period. Apollo Global Management comprises 2.6% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 18th largest holding. Cornerstone Investment Partners LLC owned approximately 0.06% of Apollo Global Management worth $53,281,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of APO. Charles Schwab Investment Management Inc. raised its position in shares of Apollo Global Management by 60.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after buying an additional 1,094,464 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Apollo Global Management by 42.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock valued at $436,148,000 after buying an additional 782,700 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Apollo Global Management by 15,187.7% in the fourth quarter. Proficio Capital Partners LLC now owns 639,027 shares of the financial services provider’s stock valued at $105,542,000 after buying an additional 634,847 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Apollo Global Management by 813.6% in the fourth quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock valued at $89,646,000 after purchasing an additional 483,369 shares during the period. Finally, Holocene Advisors LP grew its holdings in Apollo Global Management by 530.9% in the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock valued at $50,242,000 after purchasing an additional 338,472 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the subject of a number of recent analyst reports. Evercore ISI boosted their target price on shares of Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Piper Sandler boosted their target price on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Citigroup boosted their target price on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their target price on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.74.

Apollo Global Management Trading Down 3.2 %

NYSE APO opened at $144.55 on Tuesday. The company’s fifty day simple moving average is $162.85 and its 200-day simple moving average is $149.90. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market cap of $82.46 billion, a P/E ratio of 19.77, a PEG ratio of 1.17 and a beta of 1.63.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.28%. Apollo Global Management’s payout ratio is currently 25.31%.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the sale, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Leon D. Black sold 58,200 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the completion of the sale, the insider now directly owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

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.