Meeder Advisory Services Inc. Reduces Position in Apollo Global Management, Inc. (NYSE:APO)

Meeder Advisory Services Inc. trimmed its holdings in Apollo Global Management, Inc. (NYSE:APO) by 3.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,928 shares of the financial services provider’s stock after selling 319 shares during the period. Meeder Advisory Services Inc.’s holdings in Apollo Global Management were worth $990,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Cullen Frost Bankers Inc. bought a new position in shares of Apollo Global Management during the 2nd quarter valued at $35,000. Compagnie Lombard Odier SCmA purchased a new stake in Apollo Global Management during the third quarter valued at $35,000. Massmutual Trust Co. FSB ADV lifted its holdings in Apollo Global Management by 293.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 346 shares during the period. Mather Group LLC. boosted its position in Apollo Global Management by 826.9% in the second quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 645 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Apollo Global Management by 14.3% during the 3rd quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on APO. Bank of America upgraded shares of Apollo Global Management from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $124.00 to $123.00 in a research note on Tuesday, August 6th. Redburn Atlantic began coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. Argus reduced their price objective on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. Citigroup lifted their target price on Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price target on Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday. One 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $155.05.

Apollo Global Management Price Performance

NYSE:APO opened at $168.28 on Wednesday. The company has a market capitalization of $95.22 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.69 and a beta of 1.59. The business’s 50-day moving average is $139.82 and its 200 day moving average is $123.50. 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 $86.21 and a 12 month high of $169.15.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be given a dividend of $0.463 per share. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Monday, November 18th. Apollo Global Management’s dividend payout ratio is currently 19.33%.

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.