Apollo Global Management (APO) Stock Price Down 5.4%
Shares of Apollo Global Management LLC (NYSE:APO) dropped 5.4% on Friday . The stock traded as low as $27.98 and last traded at $28.00. Approximately 805,015 shares changed hands during trading, an increase of 4% from the average daily volume of 773,606 shares. The stock had previously closed at $29.59.
APO has been the topic of several research reports. Zacks Investment Research cut Apollo Global Management from a “hold” rating to a “strong sell” rating in a report on Monday, December 17th. Argus reduced their price target on Apollo Global Management from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, February 5th. Finally, TheStreet cut Apollo Global Management from a “b” rating to a “c” rating in a report on Monday, February 4th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $37.00.
The firm has a market cap of $5.99 billion, a P/E ratio of -133.33, a P/E/G ratio of 1.11 and a beta of 1.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.23 and a quick ratio of 1.23.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 21st were issued a $0.56 dividend. The ex-dividend date of this dividend was Wednesday, February 20th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $2.24 annualized dividend and a yield of 8.00%. Apollo Global Management’s dividend payout ratio is presently -1,066.67%.
In related news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.13, for a total value of $145,650.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Tiger Global Management Llc bought 1,122,800 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, December 26th. The stock was bought at an average price of $23.54 per share, for a total transaction of $26,430,712.00. The disclosure for this purchase can be found here. Corporate insiders own 4.11% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Ancora Advisors LLC bought a new position in shares of Apollo Global Management during the 3rd quarter worth approximately $156,000. Alpine Global Management LLC bought a new position in shares of Apollo Global Management during the 3rd quarter worth approximately $210,000. B. Riley Wealth Management Inc. bought a new position in shares of Apollo Global Management during the 3rd quarter worth approximately $220,000. Stelac Advisory Services LLC boosted its holdings in shares of Apollo Global Management by 5.6% during the 4th quarter. Stelac Advisory Services LLC now owns 6,605 shares of the financial services provider’s stock worth $162,000 after buying an additional 352 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Apollo Global Management during the 3rd quarter worth approximately $241,000. Hedge funds and other institutional investors own 72.22% of the company’s stock.
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About Apollo Global Management (NYSE:APO)
Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.
Further Reading: Fundamental Analysis
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