Harbor Investment Advisory LLC Reduces Position in Apollo Global Management, Inc. (NYSE:APO)

Harbor Investment Advisory LLC lowered its holdings in Apollo Global Management, Inc. (NYSE:APO) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,987 shares of the financial services provider’s stock after selling 162 shares during the period. Harbor Investment Advisory LLC’s holdings in Apollo Global Management were worth $2,640,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of APO. Compagnie Lombard Odier SCmA purchased a new position in shares of Apollo Global Management during the 3rd quarter valued at approximately $35,000. Retirement Wealth Solutions LLC bought a new position in Apollo Global Management during the 4th quarter valued at $39,000. UMB Bank n.a. grew its holdings in Apollo Global Management by 447.1% during the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 228 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Apollo Global Management in the 3rd quarter worth about $80,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Apollo Global Management in the 3rd quarter valued at about $83,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on APO. Evercore ISI lifted their price target on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group upped their price target on Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. TD Cowen lifted their price objective on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Apollo Global Management from $168.00 to $196.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.32.

Insider Activity

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 completion of the transaction, the insider now owns 35,104,773 shares of the company’s stock, valued at $6,086,114,495.01. This trade represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Tuesday, December 3rd. The stock was 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. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 196,600 shares of company stock worth $34,186,128 over the last three months. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $166.81 on Tuesday. The stock has a market cap of $94.38 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.20 and a beta of 1.63. The firm’s 50-day simple moving average is $169.19 and its 200 day simple moving average is $140.29. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were given a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.11%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, November 18th. 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.