Quent Capital LLC Cuts Stake in Apollo Global Management, Inc. (NYSE:APO)

Quent Capital LLC cut its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,921 shares of the financial services provider’s stock after selling 101 shares during the period. Quent Capital LLC’s holdings in Apollo Global Management were worth $1,308,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mill Creek Capital Advisors LLC increased its position in shares of Apollo Global Management by 71.1% in the 4th quarter. Mill Creek Capital Advisors LLC now owns 8,569 shares of the financial services provider’s stock valued at $1,415,000 after acquiring an additional 3,560 shares during the period. Kestra Private Wealth Services LLC purchased a new stake in Apollo Global Management in the fourth quarter valued at approximately $3,994,000. Stephens Inc. AR raised its position in Apollo Global Management by 28.3% during the 4th quarter. Stephens Inc. AR now owns 183,971 shares of the financial services provider’s stock worth $30,385,000 after buying an additional 40,572 shares during the last quarter. Empowered Funds LLC lifted its stake in Apollo Global Management by 1.8% during the 4th quarter. Empowered Funds LLC now owns 39,575 shares of the financial services provider’s stock valued at $6,536,000 after acquiring an additional 701 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its holdings in Apollo Global Management by 66.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 6,689 shares of the financial services provider’s stock valued at $1,105,000 after purchasing an additional 2,662 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Activity

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated 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 represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Leon D. Black sold 133,400 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the transaction, the insider now directly owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,600 shares of company stock valued at $34,186,128. 8.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Morgan Stanley increased their target price on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday. Evercore ISI upped their price objective on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group lifted their price objective on Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus target price of $165.74.

Apollo Global Management Price Performance

Shares of APO stock opened at $158.11 on Wednesday. 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 has a market capitalization of $89.46 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 1.28 and a beta of 1.63. The firm’s 50-day moving average is $168.63 and its two-hundred day moving average is $145.50. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management’s payout ratio is presently 25.31%.

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.