Cinctive Capital Management LP Reduces Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Cinctive Capital Management LP lessened its stake in Apollo Global Management, Inc. (NYSE:APO) by 87.4% in the third quarter, Holdings Channel reports. The fund owned 8,594 shares of the financial services provider’s stock after selling 59,480 shares during the quarter. Cinctive Capital Management LP’s holdings in Apollo Global Management were worth $1,073,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Beacon Investment Advisory Services Inc. lifted its position in shares of Apollo Global Management by 142.1% during the third quarter. Beacon Investment Advisory Services Inc. now owns 21,755 shares of the financial services provider’s stock worth $2,717,000 after purchasing an additional 12,770 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Apollo Global Management by 372.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 20,196 shares of the financial services provider’s stock worth $2,523,000 after buying an additional 15,921 shares in the last quarter. Atom Investors LP boosted its position in Apollo Global Management by 93.5% in the 3rd quarter. Atom Investors LP now owns 31,563 shares of the financial services provider’s stock valued at $3,943,000 after buying an additional 15,251 shares during the last quarter. Bamco Inc. NY boosted its position in Apollo Global Management by 2.9% in the 3rd quarter. Bamco Inc. NY now owns 137,429 shares of the financial services provider’s stock valued at $17,166,000 after buying an additional 3,813 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Apollo Global Management during the third quarter valued at about $1,192,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Trading Up 0.4 %

Shares of NYSE:APO opened at $173.00 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $149.45 and its 200 day moving average price is $127.23. The company has a market cap of $97.89 billion, a PE ratio of 18.08, a P/E/G ratio of 1.78 and a beta of 1.63. Apollo Global Management, Inc. has a fifty-two week low of $88.58 and a fifty-two week high of $176.75.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a dividend of $0.463 per share. The ex-dividend date was Monday, November 18th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a dividend yield of 1.07%. Apollo Global Management’s payout ratio is currently 19.33%.

Analysts Set New Price Targets

A number of research analysts recently commented on APO shares. Keefe, Bruyette & Woods increased their price target on Apollo Global Management from $159.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. The Goldman Sachs Group raised their price target on shares of Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Citigroup upped their price target on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a 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 report on Wednesday, November 6th. Finally, Redburn Partners initiated coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. Five research analysts have rated the stock with 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 target price of $155.05.

Apollo Global Management Company 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.