Jennison Associates LLC Decreases Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Jennison Associates LLC cut its holdings in Apollo Global Management, Inc. (NYSE:APO) by 23.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 308,647 shares of the financial services provider’s stock after selling 91,946 shares during the quarter. Jennison Associates LLC’s holdings in Apollo Global Management were worth $28,763,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APO. CWM LLC raised its stake in Apollo Global Management by 4.0% in the third quarter. CWM LLC now owns 5,558 shares of the financial services provider’s stock valued at $499,000 after buying an additional 215 shares during the last quarter. AE Wealth Management LLC raised its stake in Apollo Global Management by 80.0% in the third quarter. AE Wealth Management LLC now owns 5,437 shares of the financial services provider’s stock valued at $488,000 after buying an additional 2,416 shares during the last quarter. HB Wealth Management LLC purchased a new stake in Apollo Global Management in the third quarter valued at about $265,000. SG Americas Securities LLC raised its stake in Apollo Global Management by 55.3% in the third quarter. SG Americas Securities LLC now owns 9,587 shares of the financial services provider’s stock valued at $861,000 after buying an additional 3,415 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its stake in shares of Apollo Global Management by 3.1% in the third quarter. DAVENPORT & Co LLC now owns 7,294 shares of the financial services provider’s stock worth $655,000 after purchasing an additional 219 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 14,000 shares of Apollo Global Management stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the transaction, the chief financial officer now owns 366,572 shares in the company, valued at $39,989,339.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Martin Kelly sold 14,000 shares of Apollo Global Management stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the transaction, the chief financial officer now owns 366,572 shares in the company, valued at $39,989,339.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Leon D. Black sold 300,000 shares of Apollo Global Management stock in a transaction that occurred on Saturday, February 24th. The stock was sold at an average price of $111.51, for a total value of $33,453,000.00. Following the transaction, the insider now owns 43,054,773 shares in the company, valued at approximately $4,801,037,737.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,426,000 shares of company stock worth $158,226,960. 8.70% of the stock is owned by corporate insiders.

Apollo Global Management Stock Down 0.9 %

Shares of APO opened at $112.72 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average is $111.29 and its two-hundred day moving average is $98.98. The firm has a market cap of $64.04 billion, a P/E ratio of 13.40, a PEG ratio of 0.92 and a beta of 1.63. Apollo Global Management, Inc. has a 12 month low of $57.50 and a 12 month high of $117.15.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. The firm had revenue of $795.00 million for the quarter, compared to analyst estimates of $823.27 million. Apollo Global Management had a return on equity of 20.33% and a net margin of 15.86%. Analysts predict that Apollo Global Management, Inc. will post 7.44 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company 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 1.53%. The ex-dividend date of this dividend was Friday, February 16th. Apollo Global Management’s dividend payout ratio is presently 20.45%.

Analyst Ratings Changes

Several brokerages have recently issued reports on APO. JMP Securities restated a “market perform” rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. TD Cowen began coverage on Apollo Global Management in a research note on Thursday, January 4th. They issued an “outperform” rating and a $115.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Morgan Stanley raised their target price on Apollo Global Management from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Finally, Citigroup raised their target price on Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.33.

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.