Cornercap Investment Counsel Inc. Sells 185 Shares of Apollo Global Management, Inc. (NYSE:APO)

Cornercap Investment Counsel Inc. lessened its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,461 shares of the financial services provider’s stock after selling 185 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Apollo Global Management were worth $1,067,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in APO. Allstate Corp acquired a new position in Apollo Global Management in the 4th quarter valued at $1,930,000. Brown Brothers Harriman & Co. lifted its position in shares of Apollo Global Management by 13.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 2,826 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 333 shares during the period. DnB Asset Management AS increased its holdings in Apollo Global Management by 28.0% in the 4th quarter. DnB Asset Management AS now owns 208,439 shares of the financial services provider’s stock valued at $34,426,000 after buying an additional 45,659 shares during the period. Orion Portfolio Solutions LLC raised its position in Apollo Global Management by 3.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 13,276 shares of the financial services provider’s stock valued at $2,193,000 after purchasing an additional 485 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in Apollo Global Management by 12.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 172,195 shares of the financial services provider’s stock valued at $28,440,000 after buying an additional 19,381 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the transaction, the insider now owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This trade represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

Shares of APO opened at $136.89 on Friday. The company has a market capitalization of $78.09 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.17 and a beta of 1.66. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The stock has a 50 day moving average of $152.47 and a 200 day moving average of $152.95.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.35%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is 25.31%.

Wall Street Analyst Weigh In

APO has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Morgan Stanley lifted their price target on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. TD Cowen raised their price objective on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Piper Sandler increased their target price on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company dropped their price target on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.21.

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.