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

Jennison Associates LLC decreased its position in Apollo Global Management, Inc. (NYSE:APO) by 19.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 739,938 shares of the financial services provider’s stock after selling 182,061 shares during the quarter. Jennison Associates LLC’s holdings in Apollo Global Management were worth $122,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in Apollo Global Management by 11.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,404 shares of the financial services provider’s stock valued at $638,000 after purchasing an additional 560 shares during the period. Cetera Investment Advisers grew its position in shares of Apollo Global Management by 3.3% in the 2nd quarter. Cetera Investment Advisers now owns 51,218 shares of the financial services provider’s stock worth $6,047,000 after buying an additional 1,657 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Apollo Global Management during the third quarter valued at approximately $543,000. GAMMA Investing LLC raised its holdings in shares of Apollo Global Management by 4.7% during the third quarter. GAMMA Investing LLC now owns 2,508 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 113 shares in the last quarter. Finally, Eagle Rock Investment Company LLC purchased a new stake in Apollo Global Management in the third quarter worth $2,135,000. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Performance

Shares of APO opened at $167.16 on Tuesday. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The business has a fifty day moving average of $169.96 and a 200 day moving average of $143.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $94.58 billion, a P/E ratio of 17.47, a PEG ratio of 1.37 and a beta of 1.63.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 58,200 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was 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 owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. The trade was a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now directly owns 320,564 shares in the company, valued at $55,332,552.04. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 196,600 shares of company stock worth $34,186,128 in the last three months. 8.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on APO shares. Morgan Stanley upped their price objective on shares of Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. BMO Capital Markets increased their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. The Goldman Sachs Group lifted their price objective on Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Piper Sandler increased their target price on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.32.

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.