Vaughan David Investments LLC IL Trims Stake in Apollo Global Management, Inc. (NYSE:APO)

Vaughan David Investments LLC IL cut its stake in Apollo Global Management, Inc. (NYSE:APO) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 489,089 shares of the financial services provider’s stock after selling 29,878 shares during the period. Apollo Global Management accounts for 1.9% of Vaughan David Investments LLC IL’s portfolio, making the stock its 5th biggest position. Vaughan David Investments LLC IL’s holdings in Apollo Global Management were worth $80,778,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of Apollo Global Management by 42.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock worth $436,148,000 after buying an additional 782,700 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Apollo Global Management by 813.6% during the 4th quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock worth $89,646,000 after buying an additional 483,369 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 buying an additional 383,557 shares in the last quarter. Holocene Advisors LP boosted its holdings in shares of Apollo Global Management by 530.9% during 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 in the last quarter. Finally, New York State Teachers Retirement System bought a new position in shares of Apollo Global Management during the 4th quarter worth approximately $50,601,000. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Stock Performance

NYSE:APO opened at $147.70 on Tuesday. The business’s 50-day moving average price is $165.30 and its two-hundred day moving average price is $148.46. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The stock has a market cap of $83.57 billion, a P/E ratio of 20.21, a PEG ratio of 1.17 and a beta of 1.63. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on APO shares. UBS Group upgraded Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. TD Cowen upped their target price on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company lowered their target price on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods lowered their target price on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group upped their target price on Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.74.

Insider Buying and Selling at Apollo Global Management

In related news, insider Leon D. Black sold 58,200 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the transaction, the insider now directly owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. This trade represents a 0.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 201,600 shares of company stock valued at $34,977,528 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.

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.