Prospera Financial Services Inc Lowers Stake in Apollo Global Management, Inc. (NYSE:APO)

Prospera Financial Services Inc lowered its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 3.8% in the third quarter, Holdings Channel reports. The institutional investor owned 14,932 shares of the financial services provider’s stock after selling 594 shares during the period. Prospera Financial Services Inc’s holdings in Apollo Global Management were worth $1,868,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Compagnie Lombard Odier SCmA purchased a new stake in Apollo Global Management during the third quarter worth $35,000. Cullen Frost Bankers Inc. purchased a new stake in Apollo Global Management during the second quarter worth $35,000. Massmutual Trust Co. FSB ADV lifted its holdings in Apollo Global Management by 293.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock worth $55,000 after buying an additional 346 shares during the period. Mather Group LLC. lifted its holdings in Apollo Global Management by 826.9% during the second quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock worth $81,000 after buying an additional 645 shares during the period. Finally, Allworth Financial LP lifted its holdings in Apollo Global Management by 14.3% during the third quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock worth $91,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

APO has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price objective on Apollo Global Management from $159.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Bank of America upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $124.00 to $123.00 in a report on Tuesday, August 6th. UBS Group upgraded Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Argus decreased their price objective on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.05.

Apollo Global Management Stock Performance

Shares of APO stock opened at $162.87 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average price of $140.91 and a 200 day moving average price of $123.77. The company has a market cap of $92.15 billion, a P/E ratio of 17.02, a PEG ratio of 1.69 and a beta of 1.59. Apollo Global Management, Inc. has a 12 month low of $87.85 and a 12 month high of $169.15.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be paid a dividend of $0.463 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.14%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s 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.