Venator Management LLC Sells 790 Shares of Apollo Global Management, Inc. (NYSE:APO)

Venator Management LLC lowered its stake in Apollo Global Management, Inc. (NYSE:APO) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,075 shares of the financial services provider’s stock after selling 790 shares during the quarter. Apollo Global Management makes up approximately 0.4% of Venator Management LLC’s investment portfolio, making the stock its 18th largest position. Venator Management LLC’s holdings in Apollo Global Management were worth $1,499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fisher Asset Management LLC acquired a new stake in Apollo Global Management in the third quarter valued at $215,000. D.A. Davidson & CO. raised its holdings in shares of Apollo Global Management by 109.2% in the 3rd quarter. D.A. Davidson & CO. now owns 9,630 shares of the financial services provider’s stock valued at $1,203,000 after purchasing an additional 5,026 shares during the period. Townsquare Capital LLC lifted its stake in Apollo Global Management by 12.0% in the 3rd quarter. Townsquare Capital LLC now owns 11,681 shares of the financial services provider’s stock valued at $1,459,000 after purchasing an additional 1,252 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in Apollo Global Management by 11.7% during the third quarter. Northwest & Ethical Investments L.P. now owns 3,831 shares of the financial services provider’s stock worth $479,000 after buying an additional 400 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in Apollo Global Management in the third quarter valued at approximately $1,192,000. Institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the completion of the sale, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

APO has been the subject of several research analyst reports. TD Cowen lifted their target price on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. BMO Capital Markets upped their price objective 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. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Barclays increased their price target on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company reduced their price objective on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $165.21.

Apollo Global Management Stock Performance

NYSE:APO opened at $136.89 on Monday. The stock’s 50-day moving average is $152.47 and its 200-day moving average is $153.59. 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 1-year low of $95.11 and a 1-year high of $189.49. The stock has a market cap of $78.09 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.35%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s payout ratio is presently 25.31%.

About Apollo Global Management

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.