New Century Financial Group LLC Sells 454 Shares of Apollo Global Management, Inc. (NYSE:APO)

New Century Financial Group LLC lowered its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 19.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,924 shares of the financial services provider’s stock after selling 454 shares during the period. New Century Financial Group LLC’s holdings in Apollo Global Management were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Apollo Global Management by 27.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after acquiring an additional 383,557 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Apollo Global Management by 12,086.7% during the 3rd quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock valued at $462,460,000 after purchasing an additional 367,195 shares during the last quarter. Holocene Advisors LP grew its position in shares of Apollo Global Management by 530.9% during the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock valued at $50,242,000 after purchasing an additional 338,472 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Apollo Global Management by 4.7% in the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after purchasing an additional 254,268 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Apollo Global Management by 43.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 767,014 shares of the financial services provider’s stock worth $95,808,000 after buying an additional 233,670 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the topic of a number of research reports. Citigroup lifted their price objective on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI lifted their price objective on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. UBS Group upgraded Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods upped their price objective on Apollo Global Management from $168.00 to $196.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average price target of $164.32.

Apollo Global Management Trading Up 1.3 %

Shares of NYSE APO opened at $172.02 on Friday. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The firm has a market cap of $97.33 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.36 and a beta of 1.63. The business has a fifty day simple moving average of $169.66 and a two-hundred day simple moving average of $141.44. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were issued a $0.463 dividend. 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 1.08%. The ex-dividend date was Monday, November 18th. Apollo Global Management’s payout ratio is presently 19.33%.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on 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. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 133,400 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $174.16, for a total value of $23,232,944.00. Following the sale, the insider now owns 35,471,373 shares of the company’s stock, valued at $6,177,694,321.68. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 196,600 shares of company stock valued at $34,186,128 over the last three months. 8.50% of the stock is owned by company insiders.

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.