Glenmede Trust Co. NA Trims Stake in Apollo Global Management, Inc. (NYSE:APO)

Glenmede Trust Co. NA cut its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 23.7% in the third quarter, HoldingsChannel.com reports. The firm owned 25,179 shares of the financial services provider’s stock after selling 7,838 shares during the quarter. Glenmede Trust Co. NA’s holdings in Apollo Global Management were worth $3,145,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new position in Apollo Global Management during the second quarter worth about $35,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Apollo Global Management in the 3rd quarter worth approximately $35,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Apollo Global Management by 293.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 346 shares during the period. Prospera Private Wealth LLC acquired a new stake in Apollo Global Management in the 3rd quarter valued at approximately $80,000. Finally, Mather Group LLC. raised its position in Apollo Global Management by 826.9% in the second quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 645 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Argus lowered their price target on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. BMO Capital Markets lifted their target price on Apollo Global Management from $138.00 to $157.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. TD Cowen increased their price target on shares of Apollo Global Management from $165.00 to $178.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, Redburn Atlantic started coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $155.05.

Apollo Global Management Stock Up 0.7 %

APO stock opened at $175.03 on Friday. The stock has a market cap of $99.03 billion, a P/E ratio of 18.29, a PEG ratio of 1.79 and a beta of 1.59. 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 twelve month low of $88.58 and a twelve month high of $176.75. The company’s 50 day moving average is $148.51 and its two-hundred day moving average is $126.62.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were paid a dividend of $0.463 per share. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Monday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 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.