Apollo Global Management, Inc. (NYSE:APO) Stake Lessened by Navellier & Associates Inc.

Navellier & Associates Inc. decreased its stake in Apollo Global Management, Inc. (NYSE:APO) by 23.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,362 shares of the financial services provider’s stock after selling 1,366 shares during the quarter. Navellier & Associates Inc.’s holdings in Apollo Global Management were worth $545,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of APO. Chicago Capital LLC boosted its position in Apollo Global Management by 1.2% during the third quarter. Chicago Capital LLC now owns 5,675 shares of the financial services provider’s stock valued at $709,000 after purchasing an additional 69 shares during the last quarter. Cyndeo Wealth Partners LLC raised its stake in shares of Apollo Global Management by 3.0% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,687 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 77 shares in the last quarter. Cigna Investments Inc. New lifted its holdings in shares of Apollo Global Management by 1.8% during the 3rd quarter. Cigna Investments Inc. New now owns 5,166 shares of the financial services provider’s stock valued at $645,000 after buying an additional 90 shares during the last quarter. Allworth Financial LP grew its stake in shares of Apollo Global Management by 14.3% in the 3rd quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock valued at $91,000 after buying an additional 91 shares in the last quarter. Finally, Smithfield Trust Co increased its holdings in Apollo Global Management by 4.7% in the third quarter. Smithfield Trust Co now owns 2,036 shares of the financial services provider’s stock worth $253,000 after buying an additional 92 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on APO shares. Redburn Atlantic began coverage on Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised their target price on Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Piper Sandler initiated coverage on Apollo Global Management in a report on Tuesday. They set an “overweight” rating and a $188.00 price target for the company. Finally, Argus reduced their price objective 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and an average target price of $155.05.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $165.02 on Friday. The stock has a market capitalization of $93.37 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 1.74 and a beta of 1.59. The business’s fifty day moving average price is $141.96 and its two-hundred day moving average price is $124.06. Apollo Global Management, Inc. has a fifty-two week low of $88.18 and a fifty-two week high of $169.15. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a $0.463 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.12%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is 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.