Poplar Forest Capital LLC Cuts Position in Apollo Global Management, Inc. (NYSE:APO)

Poplar Forest Capital LLC reduced its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,921 shares of the financial services provider’s stock after selling 99 shares during the quarter. Poplar Forest Capital LLC’s holdings in Apollo Global Management were worth $490,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APO. Empowered Funds LLC lifted its holdings in Apollo Global Management by 193.3% in the first quarter. Empowered Funds LLC now owns 51,181 shares of the financial services provider’s stock worth $5,755,000 after acquiring an additional 33,731 shares during the last quarter. PGGM Investments acquired a new position in Apollo Global Management during the 1st quarter valued at approximately $840,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Apollo Global Management by 38.8% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 34,709 shares of the financial services provider’s stock valued at $3,903,000 after purchasing an additional 9,708 shares during the period. Mackenzie Financial Corp grew its stake in Apollo Global Management by 4.5% during the 2nd quarter. Mackenzie Financial Corp now owns 178,868 shares of the financial services provider’s stock worth $21,119,000 after buying an additional 7,679 shares during the last quarter. Finally, Forsta AP Fonden increased its position in Apollo Global Management by 8.4% in the third quarter. Forsta AP Fonden now owns 143,600 shares of the financial services provider’s stock worth $17,937,000 after buying an additional 11,100 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

APO has been the subject of several recent research reports. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and decreased their target price for the company from $124.00 to $123.00 in a research note on Tuesday, August 6th. BMO Capital Markets lifted their price target on shares of Apollo Global Management from $138.00 to $157.00 and gave the stock an “outperform” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wolfe Research started coverage on shares of Apollo Global Management in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.83.

Apollo Global Management Stock Performance

APO opened at $163.67 on Thursday. Apollo Global Management, Inc. has a 1 year low of $82.71 and a 1 year high of $166.72. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The stock’s 50 day simple moving average is $130.21 and its 200-day simple moving average is $120.07. The stock has a market cap of $93.21 billion, a PE ratio of 17.45, a P/E/G ratio of 1.55 and a beta of 1.59.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a $0.463 dividend. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, November 18th. Apollo Global Management’s dividend payout ratio is currently 19.72%.

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.