TCW Group Inc. Sells 208,518 Shares of Apollo Global Management, Inc. (NYSE:APO)

TCW Group Inc. lowered its stake in Apollo Global Management, Inc. (NYSE:APO) by 31.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 462,961 shares of the financial services provider’s stock after selling 208,518 shares during the quarter. TCW Group Inc. owned approximately 0.08% of Apollo Global Management worth $76,463,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Menard Financial Group LLC lifted its holdings in shares of Apollo Global Management by 1.2% in the third quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider’s stock worth $720,000 after acquiring an additional 71 shares during the last quarter. Sfmg LLC lifted its holdings in shares of Apollo Global Management by 1.1% in the third quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock worth $902,000 after acquiring an additional 79 shares during the last quarter. Cigna Investments Inc. New lifted its holdings in shares of Apollo Global Management by 1.8% in the third quarter. Cigna Investments Inc. New now owns 5,166 shares of the financial services provider’s stock worth $645,000 after acquiring an additional 90 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Apollo Global Management by 0.9% in the fourth quarter. Global Retirement Partners LLC now owns 9,924 shares of the financial services provider’s stock valued at $1,639,000 after buying an additional 90 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Apollo Global Management by 14.3% in the third quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock valued at $91,000 after buying an additional 91 shares during the period. Institutional investors own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In related news, insider Leon D. Black sold 133,400 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $174.16, for a total value of $23,232,944.00. Following the transaction, the insider now directly owns 35,471,373 shares in the company, valued at $6,177,694,321.68. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now owns 320,564 shares in the company, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 201,600 shares of company stock valued at $34,977,528 in the last quarter. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Stock Performance

Shares of APO stock opened at $150.45 on Friday. The company has a market cap of $85.12 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 1.21 and a beta of 1.63. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. 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 50 day moving average of $165.90 and a 200-day moving average of $147.83.

Apollo Global Management Cuts Dividend

The business also recently disclosed 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 1.23%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is 25.31%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on APO. Evercore ISI upped their price objective on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Piper Sandler upped their price objective on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. UBS Group raised Apollo Global Management to a “hold” rating in a research note on Wednesday, November 13th. Citigroup upped their price objective on Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Barclays upped their price objective on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research note 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 stock. According to MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $165.74.

Apollo Global Management Company 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.