Apollo Global Management, Inc. (NYSE:APO) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its position in Apollo Global Management, Inc. (NYSE:APO) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 921,999 shares of the financial services provider’s stock after selling 51,142 shares during the quarter. Jennison Associates LLC’s holdings in Apollo Global Management were worth $115,167,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in APO. Chicago Capital LLC boosted its holdings in Apollo Global Management by 1.2% in the third quarter. Chicago Capital LLC now owns 5,675 shares of the financial services provider’s stock worth $709,000 after purchasing an additional 69 shares during the period. Cyndeo Wealth Partners LLC lifted its position in shares of Apollo Global Management by 3.0% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,687 shares of the financial services provider’s stock worth $336,000 after buying an additional 77 shares during the last quarter. Cigna Investments Inc. New boosted its holdings in shares of Apollo Global Management by 1.8% in the 3rd quarter. Cigna Investments Inc. New now owns 5,166 shares of the financial services provider’s stock valued at $645,000 after buying an additional 90 shares during the period. Allworth Financial LP grew its position in shares of Apollo Global Management by 14.3% during the 3rd quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock valued at $91,000 after buying an additional 91 shares during the last quarter. Finally, FineMark National Bank & Trust raised its stake in Apollo Global Management by 2.4% during the second quarter. FineMark National Bank & Trust now owns 4,117 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 98 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Barclays lifted their target price on Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Argus reduced their price objective on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Redburn Partners began coverage on Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. TD Cowen boosted their price target on shares of Apollo Global Management from $165.00 to $178.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets upped their price target on shares of Apollo Global Management from $138.00 to $157.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. 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. According to data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $155.05.

Apollo Global Management Stock Down 3.2 %

APO opened at $162.87 on Thursday. The stock’s fifty day moving average is $140.91 and its 200-day moving average is $123.77. Apollo Global Management, Inc. has a one year low of $87.85 and a one year high of $169.15. The company has a market capitalization of $92.15 billion, a PE ratio of 17.02, a P/E/G ratio of 1.69 and a beta of 1.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be issued a $0.463 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.14%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, November 18th. Apollo Global Management’s dividend payout ratio is presently 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.