Procyon Advisors LLC Sells 10,521 Shares of Apollo Global Management, Inc. (NYSE:APO)

Procyon Advisors LLC decreased its stake in Apollo Global Management, Inc. (NYSE:APO) by 24.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,564 shares of the financial services provider’s stock after selling 10,521 shares during the period. Procyon Advisors LLC’s holdings in Apollo Global Management were worth $5,378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in APO. Compagnie Lombard Odier SCmA bought a new stake in Apollo Global Management during the third quarter worth about $35,000. Prospera Private Wealth LLC purchased a new position in shares of Apollo Global Management during the third quarter worth approximately $80,000. Truvestments Capital LLC bought a new stake in shares of Apollo Global Management in the 3rd quarter worth approximately $83,000. Versant Capital Management Inc grew its position in Apollo Global Management by 203.6% during the 4th quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider’s stock worth $83,000 after acquiring an additional 336 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Apollo Global Management by 14.3% during the third quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Activity

In related news, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the transaction, the insider now directly owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares of the company’s stock, 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. In the last three months, insiders have sold 196,600 shares of company stock worth $34,186,128. 8.50% of the stock is currently owned by corporate insiders.

Apollo Global Management Trading Up 0.6 %

Shares of Apollo Global Management stock opened at $165.80 on Friday. The company has a market capitalization of $93.81 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.20 and a beta of 1.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The company has a fifty day moving average of $169.09 and a 200 day moving average of $139.35. Apollo Global Management, Inc. has a fifty-two week low of $94.34 and a fifty-two week high of $189.49.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a $0.463 dividend. The ex-dividend date of this dividend was Monday, November 18th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.12%. Apollo Global Management’s payout ratio is 19.33%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Barclays raised their target price on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. BMO Capital Markets boosted their price target on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, TD Cowen lifted their price target on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.32.

About Apollo Global Management

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.