HighPoint Advisor Group LLC Cuts Holdings in Apollo Global Management, Inc. (NYSE:APO)

HighPoint Advisor Group LLC trimmed its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 11.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,658 shares of the financial services provider’s stock after selling 345 shares during the period. HighPoint Advisor Group LLC’s holdings in Apollo Global Management were worth $420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in APO. Hopwood Financial Services Inc. purchased a new position in Apollo Global Management during the fourth quarter valued at approximately $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter worth about $34,000. Byrne Asset Management LLC bought a new position in shares of Apollo Global Management during the 4th quarter valued at approximately $37,000. Retirement Wealth Solutions LLC purchased a new position in shares of Apollo Global Management in the 4th quarter worth $39,000. Finally, HM Payson & Co. purchased a new position in Apollo Global Management in the fourth quarter worth about $45,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $141.68 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $80.83 billion, a PE ratio of 19.38, a P/E/G ratio of 1.17 and a beta of 1.66. The firm’s 50-day simple moving average is $150.71 and its 200 day simple moving average is $153.85. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.31%. Apollo Global Management’s payout ratio is currently 25.31%.

Insider Buying and Selling at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the transaction, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on APO. Keefe, Bruyette & Woods reduced their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Morgan Stanley boosted their price target on shares of Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Wells Fargo & Company decreased their price objective on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Finally, TD Cowen raised their price target on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $164.74.

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.