Wellington Management Group LLP Sells 211,631 Shares of Apollo Global Management, Inc. (NYSE:APO)

Wellington Management Group LLP cut its stake in Apollo Global Management, Inc. (NYSE:APO) by 97.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,423 shares of the financial services provider’s stock after selling 211,631 shares during the quarter. Wellington Management Group LLP’s holdings in Apollo Global Management were worth $677,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new position in shares of Apollo Global Management in the second quarter valued at approximately $62,972,000. Marshall Wace LLP increased its position in shares of Apollo Global Management by 74.5% during the 2nd quarter. Marshall Wace LLP now owns 955,673 shares of the financial services provider’s stock valued at $112,836,000 after purchasing an additional 408,105 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Apollo Global Management by 27.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after purchasing an additional 383,557 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Apollo Global Management by 12,086.7% in the 3rd quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock worth $462,460,000 after buying an additional 367,195 shares during the last quarter. Finally, Holocene Advisors LP boosted its holdings in shares of Apollo Global Management by 530.9% in the 3rd 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 during the last quarter. Institutional investors own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now directly owns 320,564 shares in the company, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon D. Black sold 133,400 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the sale, the insider now directly owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 196,600 shares of company stock worth $34,186,128 in the last ninety days. 8.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Redburn Atlantic started coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. TD Cowen upped their price objective on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Citigroup raised their target price on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their price target on Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $164.63.

Apollo Global Management Price Performance

APO stock opened at $171.03 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $96.77 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.84 and a beta of 1.63. The firm’s fifty day moving average is $160.82 and its 200 day moving average is $132.49. Apollo Global Management, Inc. has a 52 week low of $89.76 and a 52 week high of $189.49.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were paid a $0.463 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, November 18th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is 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.