Jennison Associates LLC Sells 91,946 Shares of Apollo Global Management, Inc. (NYSE:APO)

Jennison Associates LLC trimmed its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 23.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 308,647 shares of the financial services provider’s stock after selling 91,946 shares during the quarter. Jennison Associates LLC owned 0.05% of Apollo Global Management worth $28,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Strategic Blueprint LLC boosted its holdings in shares of Apollo Global Management by 42.4% in the 4th quarter. Strategic Blueprint LLC now owns 46,585 shares of the financial services provider’s stock worth $4,341,000 after buying an additional 13,870 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Apollo Global Management by 129.8% in the 4th quarter. Nordea Investment Management AB now owns 658,008 shares of the financial services provider’s stock worth $61,497,000 after buying an additional 371,721 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Apollo Global Management by 39.1% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 185,206 shares of the financial services provider’s stock worth $17,259,000 after buying an additional 52,063 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Apollo Global Management by 3.5% in the 4th quarter. Raymond James & Associates now owns 1,073,419 shares of the financial services provider’s stock worth $100,032,000 after buying an additional 36,748 shares during the last quarter. Finally, Pathstone Family Office LLC boosted its holdings in shares of Apollo Global Management by 28.6% in the 3rd quarter. Pathstone Family Office LLC now owns 26,993 shares of the financial services provider’s stock worth $2,423,000 after buying an additional 6,000 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. JMP Securities restated a “market perform” rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. Barclays boosted their price objective on Apollo Global Management from $122.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Wells Fargo & Company boosted their price objective on Apollo Global Management from $110.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Finally, BMO Capital Markets boosted their price objective on Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus target price of $113.33.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $109.09, for a total value of $1,527,260.00. Following the transaction, the chief financial officer now owns 366,572 shares in the company, valued at $39,989,339.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Martin Kelly sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $109.09, for a total value of $1,527,260.00. Following the transaction, the chief financial officer now owns 366,572 shares in the company, valued at $39,989,339.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James C. Zelter sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.16, for a total transaction of $16,374,000.00. Following the completion of the transaction, the insider now owns 1,454,588 shares in the company, valued at approximately $158,782,826.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,426,000 shares of company stock worth $158,226,960. Insiders own 8.70% of the company’s stock.

Apollo Global Management Stock Down 0.9 %

Shares of NYSE APO opened at $112.72 on Thursday. Apollo Global Management, Inc. has a one year low of $57.50 and a one year high of $117.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.54 and a quick ratio of 1.54. The firm’s 50 day simple moving average is $111.29 and its two-hundred day simple moving average is $98.98. The stock has a market capitalization of $64.04 billion, a P/E ratio of 13.40, a PEG ratio of 0.92 and a beta of 1.63.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. The business had revenue of $795.00 million for the quarter, compared to analysts’ expectations of $823.27 million. As a group, analysts expect that Apollo Global Management, Inc. will post 7.44 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, February 16th. Apollo Global Management’s dividend payout ratio is 20.45%.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.