Moors & Cabot Inc. Sells 2,282 Shares of Apollo Global Management, Inc. (NYSE:APO)

Moors & Cabot Inc. reduced its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,226 shares of the financial services provider’s stock after selling 2,282 shares during the period. Moors & Cabot Inc.’s holdings in Apollo Global Management were worth $2,019,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APO. Atria Investments Inc increased its holdings in Apollo Global Management by 112.3% during the third quarter. Atria Investments Inc now owns 19,498 shares of the financial services provider’s stock valued at $2,435,000 after buying an additional 10,315 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in Apollo Global Management by 5.4% during the third quarter. Nations Financial Group Inc. IA ADV now owns 3,238 shares of the financial services provider’s stock valued at $404,000 after buying an additional 165 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in Apollo Global Management by 2.7% during the third quarter. Apollon Wealth Management LLC now owns 17,049 shares of the financial services provider’s stock valued at $2,130,000 after buying an additional 442 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Apollo Global Management during the third quarter valued at approximately $2,014,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Apollo Global Management by 1.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 951,790 shares of the financial services provider’s stock valued at $118,888,000 after buying an additional 12,816 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on APO. BMO Capital Markets upped their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. UBS Group raised shares of Apollo Global Management to a “hold” rating in a research note on Wednesday, November 13th. 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 research note on Monday, December 9th. The Goldman Sachs Group increased their price objective on shares of Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Barclays increased their price objective on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $165.74.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $134.72 on Thursday. 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 50 day simple moving average of $157.77 and a two-hundred day simple moving average of $150.78. The stock has a market cap of $76.85 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Insider Buying and Selling 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 transaction, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at $59,697,517.92. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.50% of the company’s stock.

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.