Cynosure Group LLC Sells 1,390 Shares of Apollo Global Management, Inc. (NYSE:APO)

Cynosure Group LLC reduced its holdings in Apollo Global Management, Inc. (NYSE:APO) by 45.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,645 shares of the financial services provider’s stock after selling 1,390 shares during the period. Cynosure Group LLC’s holdings in Apollo Global Management were worth $272,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Apollo Global Management by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock valued at $1,550,316,000 after buying an additional 3,695,979 shares during the last quarter. Vanguard Group Inc. raised its holdings in Apollo Global Management by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after acquiring an additional 3,691,700 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Apollo Global Management by 245.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock worth $438,196,000 after acquiring an additional 1,886,146 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Apollo Global Management by 60.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock worth $479,057,000 after acquiring an additional 1,094,464 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Apollo Global Management by 42.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock worth $436,148,000 after purchasing an additional 782,700 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

APO opened at $108.22 on Friday. 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 company’s 50 day simple moving average is $148.49 and its 200-day simple moving average is $153.57. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The stock has a market capitalization of $61.74 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

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 paid a $0.4625 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.71%. Apollo Global Management’s dividend payout ratio (DPR) is currently 25.31%.

Wall Street Analyst Weigh In

Several research analysts recently commented on APO shares. Wells Fargo & Company reduced their target price on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Piper Sandler dropped their price objective on shares of Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating for the company in a research note on Wednesday. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods dropped their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, Barclays lifted their price objective on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and an average price target of $168.26.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the sale, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Leon D. Black sold 500,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the transaction, the insider now owns 34,604,773 shares in the company, valued at $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

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.