Apollo Global Management, Inc. (NYSE:APO) is NFC Investments LLC’s Largest Position

NFC Investments LLC cut its holdings in Apollo Global Management, Inc. (NYSE:APO) by 25.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 308,403 shares of the financial services provider’s stock after selling 105,925 shares during the quarter. Apollo Global Management makes up about 14.1% of NFC Investments LLC’s investment portfolio, making the stock its largest position. NFC Investments LLC’s holdings in Apollo Global Management were worth $50,935,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Harbour Investments Inc. lifted its stake in Apollo Global Management by 154.0% in the fourth quarter. Harbour Investments Inc. now owns 409 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 248 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Apollo Global Management by 8.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,687 shares of the financial services provider’s stock valued at $2,591,000 after buying an additional 1,274 shares during the last quarter. Diversified Enterprises LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter valued at about $441,000. Natixis Advisors LLC lifted its position in shares of Apollo Global Management by 32.3% during the fourth quarter. Natixis Advisors LLC now owns 207,096 shares of the financial services provider’s stock valued at $34,204,000 after buying an additional 50,511 shares during the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter valued at about $471,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

APO has been the subject of several analyst reports. Wells Fargo & Company decreased their price target on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. The Goldman Sachs Group increased their price target on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. BMO Capital Markets increased 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. Morgan Stanley increased their price target on shares of Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Finally, StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.74.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $134.36 on Monday. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The company’s 50 day moving average is $156.36 and its 200 day moving average is $151.32. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The company has a market cap of $76.65 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.38%. 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.