Sierra Capital LLC Reduces Position in Apollo Global Management, Inc. (NYSE:APO)

Sierra Capital LLC trimmed its holdings in Apollo Global Management, Inc. (NYSE:APO) by 35.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 22,455 shares of the financial services provider’s stock after selling 12,200 shares during the quarter. Sierra Capital LLC’s holdings in Apollo Global Management were worth $3,709,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Byrne Asset Management LLC acquired a new stake in Apollo Global Management in the 4th quarter valued at about $37,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $39,000. UMB Bank n.a. lifted its position in Apollo Global Management by 447.1% during the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock worth $46,000 after buying an additional 228 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Apollo Global Management during the third quarter worth $80,000. Finally, Truvestments Capital LLC purchased a new stake in Apollo Global Management in the 3rd quarter valued at $83,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

APO stock opened at $147.70 on Tuesday. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The firm has a market capitalization of $83.57 billion, a P/E ratio of 20.21, a P/E/G ratio of 1.17 and a beta of 1.63. 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 business’s 50-day moving average is $165.30 and its two-hundred day moving average is $148.46.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be paid a $0.4625 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.25%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APO. 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. Keefe, Bruyette & Woods cut their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft lifted their target price 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, TD Cowen increased their price target on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $165.74.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now owns 377,164 shares in the company, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Leon D. Black sold 58,200 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the completion of the transaction, the insider now directly owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This trade represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 201,600 shares of company stock worth $34,977,528 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.

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.