Apollo Global Management, Inc. (NYSE:APO) Shares Sold by IFP Advisors Inc

IFP Advisors Inc lessened its position in Apollo Global Management, Inc. (NYSE:APO) by 20.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,187 shares of the financial services provider’s stock after selling 3,155 shares during the period. IFP Advisors Inc’s holdings in Apollo Global Management were worth $2,013,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Byrne Asset Management LLC purchased a new stake in Apollo Global Management in the fourth quarter valued at approximately $37,000. Retirement Wealth Solutions LLC purchased a new stake in Apollo Global Management in the fourth quarter valued at approximately $39,000. UMB Bank n.a. grew its holdings in Apollo Global Management by 447.1% in the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 228 shares during the period. Prospera Private Wealth LLC purchased a new stake in Apollo Global Management in the third quarter valued at approximately $80,000. Finally, Truvestments Capital LLC purchased a new stake in Apollo Global Management in the third quarter valued at approximately $83,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on APO. Barclays boosted their price objective on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Piper Sandler boosted their price objective on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. BMO Capital Markets boosted their price objective on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group boosted their price objective on shares of Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. One 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $165.74.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 133,400 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $174.16, for a total value of $23,232,944.00. Following the sale, the insider now directly owns 35,471,373 shares of the company’s stock, valued at $6,177,694,321.68. This represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the sale, the chief financial officer now directly owns 320,564 shares in the company, valued at $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 201,600 shares of company stock valued at $34,977,528 over the last ninety days. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Trading Down 1.6 %

APO opened at $145.48 on Wednesday. The stock has a market capitalization of $82.31 billion, a PE ratio of 19.90, a P/E/G ratio of 1.17 and a beta of 1.63. The firm’s fifty day moving average price is $164.68 and its 200 day moving average price is $148.75. 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 12-month low of $95.11 and a 12-month high of $189.49.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.27%. Apollo Global Management’s dividend payout ratio is presently 25.31%.

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.