Massachusetts Financial Services Co. MA cut its holdings in shares of Apollo Global Management LLC (NYSE:APO) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,881,713 shares of the financial services provider’s stock after selling 47,914 shares during the period. Massachusetts Financial Services Co. MA owned about 1.93% of Apollo Global Management worth $146,807,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Arlington Partners LLC bought a new stake in shares of Apollo Global Management in the 2nd quarter valued at $34,000. Heritage Wealth Advisors increased its stake in shares of Apollo Global Management by 100.0% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 500 shares in the last quarter. NEXT Financial Group Inc bought a new stake in shares of Apollo Global Management in the 2nd quarter valued at $54,000. Boston Partners bought a new stake in shares of Apollo Global Management in the 2nd quarter valued at $125,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Apollo Global Management in the 3rd quarter valued at $163,000. Institutional investors and hedge funds own 72.97% of the company’s stock.

In other news, CFO Martin Kelly sold 4,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $39.96, for a total value of $159,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 46.90% of the company’s stock.

APO stock traded down $0.07 during midday trading on Thursday, reaching $43.10. 1,669 shares of the company’s stock traded hands, compared to its average volume of 1,793,558. The company has a market cap of $8.52 billion, a price-to-earnings ratio of -205.29, a P/E/G ratio of 1.29 and a beta of 1.51. The firm’s fifty day moving average price is $40.27 and its 200-day moving average price is $35.97. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.12. Apollo Global Management LLC has a 52 week low of $22.63 and a 52 week high of $44.18.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.03). The business had revenue of $401.38 million for the quarter, compared to analyst estimates of $404.24 million. During the same period in the previous year, the business earned $0.83 EPS. Analysts forecast that Apollo Global Management LLC will post 2.34 earnings per share for the current year.

The company also recently announced a dividend, which will be paid on Friday, November 29th. Stockholders of record on Wednesday, November 20th will be paid a $0.50 dividend. This is a positive change from Apollo Global Management’s previous dividend of $0.42. The ex-dividend date is Tuesday, November 19th. Apollo Global Management’s dividend payout ratio is presently -952.38%.

Several analysts have recently weighed in on APO shares. Bank of America lifted their price objective on shares of Apollo Global Management from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Barclays restated a “buy” rating and set a $44.00 price target on shares of Apollo Global Management in a research note on Sunday, October 13th. UBS Group boosted their price target on shares of Apollo Global Management from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Co boosted their price target on shares of Apollo Global Management from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Finally, ValuEngine lowered shares of Apollo Global Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $45.25.

Apollo Global Management Profile

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: Average Daily Trade Volume – ADTV

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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