Principal Financial Group Inc. Has $7.42 Million Holdings in Apollo Global Management, Inc. (NYSE:APO)

Principal Financial Group Inc. decreased its holdings in Apollo Global Management, Inc. (NYSE:APO) by 76.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 59,411 shares of the financial services provider’s stock after selling 193,874 shares during the period. Principal Financial Group Inc.’s holdings in Apollo Global Management were worth $7,421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Cullen Frost Bankers Inc. bought a new position in shares of Apollo Global Management during the second quarter worth approximately $35,000. Compagnie Lombard Odier SCmA acquired a new stake in Apollo Global Management during the third quarter worth approximately $35,000. Prospera Private Wealth LLC bought a new position in Apollo Global Management during the 3rd quarter worth $80,000. Truvestments Capital LLC acquired a new position in Apollo Global Management in the 3rd quarter valued at $83,000. Finally, Allworth Financial LP raised its holdings in Apollo Global Management by 14.3% in the 3rd quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 91 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on APO shares. Citigroup raised their price target 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. JPMorgan Chase & Co. boosted their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wolfe Research initiated coverage on shares of Apollo Global Management in a research report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 price target on the stock. Barclays boosted their price objective on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, UBS Group raised Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. One equities 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.63.

Apollo Global Management Stock Down 0.8 %

NYSE:APO opened at $165.16 on Wednesday. Apollo Global Management, Inc. has a one year low of $89.76 and a one year high of $189.49. 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 company has a market cap of $93.45 billion, a PE ratio of 17.26, a P/E/G ratio of 1.84 and a beta of 1.63. The firm’s 50 day simple moving average is $164.87 and its 200 day simple moving average is $135.49.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.12%. 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%.

Insider Buying and Selling

In other Apollo Global Management news, insider Leon D. Black sold 58,200 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the completion of the transaction, the insider now owns 35,104,773 shares in the company, valued at approximately $6,086,114,495.01. This trade represents a 0.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $863,050.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 196,600 shares of company stock valued at $34,186,128 over the last 90 days. 8.50% of the stock is owned by insiders.

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.