Principal Financial Group Inc. Sells 193,874 Shares of Apollo Global Management, Inc. (NYSE:APO)

Principal Financial Group Inc. decreased its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 76.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,411 shares of the financial services provider’s stock after selling 193,874 shares during the quarter. Principal Financial Group Inc.’s holdings in Apollo Global Management were worth $7,421,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of APO. Cullen Frost Bankers Inc. acquired a new position in shares of Apollo Global Management in the 2nd quarter valued at $35,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Apollo Global Management in the 3rd quarter worth $35,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Apollo Global Management by 293.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after buying an additional 346 shares during the period. Mather Group LLC. grew its holdings in shares of Apollo Global Management by 826.9% during the 2nd quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 645 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Apollo Global Management by 14.3% during the third quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock worth $91,000 after buying an additional 91 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on APO shares. TD Cowen increased their target price on shares of Apollo Global Management from $165.00 to $178.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Argus dropped their price target on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Evercore ISI boosted their target price on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their target price on Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company increased their price target on Apollo Global Management from $149.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $155.05.

Apollo Global Management Stock Up 2.4 %

APO stock opened at $168.28 on Wednesday. The firm has a fifty day moving average price of $139.82 and a two-hundred day moving average price of $123.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. Apollo Global Management, Inc. has a 1-year low of $86.21 and a 1-year high of $169.15. The firm has a market cap of $95.22 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.69 and a beta of 1.59.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be given a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.10%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, November 18th. Apollo Global Management’s dividend payout ratio is presently 19.33%.

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.