Mill Creek Capital Advisors LLC Reduces Position in Apollo Global Management, Inc. (NYSE:APO)

Mill Creek Capital Advisors LLC reduced its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 36.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,009 shares of the financial services provider’s stock after selling 2,848 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Apollo Global Management were worth $626,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Curated Wealth Partners LLC grew its position in shares of Apollo Global Management by 200.3% in the 2nd quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after buying an additional 4,717,661 shares during the last quarter. Capital Research Global Investors boosted its stake in Apollo Global Management by 40.3% in the first quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after acquiring an additional 1,360,525 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Apollo Global Management during the second quarter worth about $62,972,000. 1832 Asset Management L.P. increased its position in shares of Apollo Global Management by 66.0% during the first quarter. 1832 Asset Management L.P. now owns 1,257,460 shares of the financial services provider’s stock worth $141,401,000 after purchasing an additional 499,930 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Apollo Global Management by 74.5% in the 2nd quarter. Marshall Wace LLP now owns 955,673 shares of the financial services provider’s stock valued at $112,836,000 after purchasing an additional 408,105 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on APO shares. Redburn Partners assumed coverage on Apollo Global Management in a research report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target on the stock. Evercore ISI upped their price target on shares of Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company raised their price objective on shares of Apollo Global Management from $149.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price objective on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $150.83.

Apollo Global Management Stock Down 0.4 %

Apollo Global Management stock opened at $163.63 on Friday. The stock’s 50 day moving average price is $137.45 and its 200 day moving average price is $122.61. The company has a market cap of $92.58 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.70 and a beta of 1.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. Apollo Global Management, Inc. has a 1-year low of $85.84 and a 1-year high of $168.67.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.463 per share. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.13%. Apollo Global Management’s payout ratio is 19.33%.

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.