LGT Capital Partners LTD. Cuts Stock Position in Apollo Global Management, Inc. (NYSE:APO)

LGT Capital Partners LTD. lessened its stake in Apollo Global Management, Inc. (NYSE:APO) by 28.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 240,000 shares of the financial services provider’s stock after selling 96,000 shares during the quarter. Apollo Global Management makes up about 1.5% of LGT Capital Partners LTD.’s portfolio, making the stock its 21st biggest holding. LGT Capital Partners LTD.’s holdings in Apollo Global Management were worth $39,638,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of APO. Charles Schwab Investment Management Inc. grew its holdings in shares of Apollo Global Management by 60.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock worth $479,057,000 after buying an additional 1,094,464 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Apollo Global Management by 42.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock worth $436,148,000 after buying an additional 782,700 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Apollo Global Management by 15,187.7% during the fourth quarter. Proficio Capital Partners LLC now owns 639,027 shares of the financial services provider’s stock worth $105,542,000 after buying an additional 634,847 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Apollo Global Management by 813.6% during the fourth quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock worth $89,646,000 after buying an additional 483,369 shares in the last quarter. Finally, Holocene Advisors LP grew its holdings in shares of Apollo Global Management by 530.9% during the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock worth $50,242,000 after buying an additional 338,472 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Down 1.6 %

Shares of APO stock opened at $132.63 on Friday. 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 firm has a market cap of $75.66 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company has a 50-day moving average of $159.88 and a two-hundred day moving average of $150.35. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Insider Activity

In other news, CFO Martin Kelly sold 5,000 shares of the firm’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 transaction, the chief financial officer now owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on APO. Morgan Stanley upped their target price on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Piper Sandler boosted their price target on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods lowered their price target 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. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Finally, BMO Capital Markets boosted their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $165.74.

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.