Zurcher Kantonalbank Zurich Cantonalbank Sells 2,904 Shares of Apollo Global Management, Inc. (NYSE:APO)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 144,854 shares of the financial services provider’s stock after selling 2,904 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Apollo Global Management were worth $18,094,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Compagnie Lombard Odier SCmA bought a new stake in Apollo Global Management during the third quarter worth about $35,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Apollo Global Management in the 2nd quarter worth approximately $35,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Apollo Global Management by 293.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock worth $55,000 after buying an additional 346 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Apollo Global Management during the 3rd quarter valued at approximately $80,000. Finally, Truvestments Capital LLC purchased a new position in Apollo Global Management during the third quarter valued at $83,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Up 0.7 %

Shares of APO stock opened at $175.08 on Friday. 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, Inc. has a 12 month low of $88.58 and a 12 month high of $176.75. The stock has a market cap of $99.06 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.79 and a beta of 1.59. The company has a 50 day simple moving average of $147.50 and a two-hundred day simple moving average of $126.17.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were issued a $0.463 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Monday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 19.33%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on APO. Morgan Stanley raised their price target on Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Barclays raised their price objective on shares of Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods upped their target price on shares of Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised their price target on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Redburn Partners assumed coverage on Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $155.05.

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.