Pinnacle Financial Partners Inc Cuts Holdings in Apollo Global Management Inc. $APO

Pinnacle Financial Partners Inc reduced its holdings in Apollo Global Management Inc. (NYSE:APO) by 3.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 102,053 shares of the financial services provider’s stock after selling 3,655 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Apollo Global Management were worth $13,601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APO. Delos Wealth Advisors LLC purchased a new position in Apollo Global Management in the second quarter worth $25,000. Activest Wealth Management grew its stake in shares of Apollo Global Management by 875.0% during the 2nd quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 175 shares during the period. Sound Income Strategies LLC acquired a new position in shares of Apollo Global Management during the 3rd quarter worth $28,000. SJS Investment Consulting Inc. increased its holdings in shares of Apollo Global Management by 1,123.5% in the 3rd quarter. SJS Investment Consulting Inc. now owns 208 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 191 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its stake in shares of Apollo Global Management by 6,900.0% in the second quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 207 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 6,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $131.41, for a total value of $788,460.00. Following the completion of the transaction, the chief financial officer directly owned 325,604 shares of the company’s stock, valued at $42,787,621.64. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 8.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on APO. Wall Street Zen upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Cowen reissued a “buy” rating on shares of Apollo Global Management in a research note on Tuesday, November 25th. Keefe, Bruyette & Woods upped their price target on Apollo Global Management from $162.00 to $173.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Apollo Global Management in a research note on Tuesday, November 25th. Finally, Citigroup decreased their target price on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average price target of $165.62.

Apollo Global Management Stock Down 0.1%

APO stock opened at $144.01 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 1.49. The company’s 50 day simple moving average is $140.13 and its 200-day simple moving average is $138.01. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $174.91. The firm has a market capitalization of $83.59 billion, a PE ratio of 21.05, a P/E/G ratio of 1.29 and a beta of 1.59.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Monday, November 17th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $2.04 annualized dividend and a yield of 1.4%. Apollo Global Management’s dividend payout ratio (DPR) is presently 29.82%.

Apollo Global Management Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.