Cannell & Spears LLC Reduces Holdings in Apollo Global Management, Inc. (NYSE:APO)

Cannell & Spears LLC lowered its stake in Apollo Global Management, Inc. (NYSE:APO) by 0.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,443 shares of the financial services provider’s stock after selling 145 shares during the quarter. Cannell & Spears LLC’s holdings in Apollo Global Management were worth $5,854,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new stake in shares of Apollo Global Management in the fourth quarter valued at $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in Apollo Global Management in the 4th quarter valued at about $34,000. Byrne Asset Management LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth about $37,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter worth about $39,000. Finally, HM Payson & Co. acquired a new position in shares of Apollo Global Management in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Buying and Selling

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Martin Kelly sold 5,000 shares of the business’s 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 completion of the sale, the chief financial officer now owns 377,164 shares of the company’s stock, valued at $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 currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on APO. Keefe, Bruyette & Woods decreased their target price 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. BMO Capital Markets lifted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Morgan Stanley increased their target price on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Barclays lifted their price target on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, TD Cowen increased their price objective on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average price target of $165.21.

Apollo Global Management Stock Up 0.1 %

Shares of NYSE APO opened at $137.08 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The company has a market cap of $78.20 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.17 and a beta of 1.66. The stock has a fifty day moving average price of $151.87 and a 200 day moving average price of $153.76.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.35%. Apollo Global Management’s dividend payout ratio is currently 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.