Apollo Global Management, Inc. (NYSE:APO) Stake Lessened by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. reduced its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 27.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,646 shares of the financial services provider’s stock after selling 2,560 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Apollo Global Management were worth $830,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Apollo Global Management in the second quarter valued at about $35,000. Compagnie Lombard Odier SCmA bought a new position in Apollo Global Management in the 3rd quarter worth approximately $35,000. Massmutual Trust Co. FSB ADV raised its position in Apollo Global Management by 293.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 346 shares during the last quarter. Orion Capital Management LLC raised its position in Apollo Global Management by 20.0% in the 1st quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 100 shares during the last quarter. Finally, Mather Group LLC. grew its holdings in Apollo Global Management by 826.9% during the 2nd quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 645 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Apollo Global Management from $149.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. TD Cowen upped their target price on shares of Apollo Global Management from $165.00 to $178.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Redburn Partners initiated coverage on shares of Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price target on the stock. UBS Group raised shares of Apollo Global Management to a “hold” rating in a report on Wednesday. Finally, Redburn Atlantic started coverage on shares of Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price on the stock. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus price target of $150.83.

Apollo Global Management Stock Performance

NYSE APO opened at $163.60 on Friday. Apollo Global Management, Inc. has a 1 year low of $85.84 and a 1 year high of $168.67. 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 stock has a market capitalization of $93.18 billion, a PE ratio of 17.10, a P/E/G ratio of 1.70 and a beta of 1.59. The company’s 50 day simple moving average is $137.45 and its two-hundred day simple moving average is $122.51.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be issued a dividend of $0.463 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.13%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is currently 19.33%.

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.