First Trust Advisors LP Sells 125,718 Shares of Apollo Global Management, Inc. (NYSE:APO)

First Trust Advisors LP lessened its holdings in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 46.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 144,211 shares of the financial services provider's stock after selling 125,718 shares during the quarter. First Trust Advisors LP's holdings in Apollo Global Management were worth $23,818,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new position in shares of Apollo Global Management during the 4th quarter valued at $33,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Apollo Global Management in the fourth quarter valued at approximately $34,000. Byrne Asset Management LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter worth $37,000. Retirement Wealth Solutions LLC bought a new stake in shares of Apollo Global Management during the 4th quarter worth $39,000. Finally, HM Payson & Co. acquired a new position in Apollo Global Management in the 4th quarter valued at $45,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Raymond James initiated coverage on Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price objective on the stock. Morgan Stanley dropped their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Citigroup reduced their price objective on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. TD Cowen cut their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods reduced 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of "Moderate Buy" and an average price target of $156.25.

Insider Activity

In other news, insider Leon D. Black sold 500,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the sale, the insider now directly owns 34,604,773 shares of the company's stock, valued at $4,913,877,766. This represents a 1.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of Apollo Global Management stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares in the company, valued at $69,257,178.06. The trade was a 4,331.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Trading Up 1.8 %

Shares of NYSE:APO traded up $2.41 during trading on Thursday, hitting $138.89. 1,139,530 shares of the company's stock were exchanged, compared to its average volume of 3,830,745. The firm has a 50-day moving average price of $133.57 and a two-hundred day moving average price of $152.99. 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 cap of $79.24 billion, a P/E ratio of 19.04, a PEG ratio of 1.17 and a beta of 1.66. 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management's payout ratio is 25.31%.

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.