Motco Sells 6,845 Shares of Apollo Global Management, Inc. (NYSE:APO)

Motco decreased its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,931 shares of the financial services provider’s stock after selling 6,845 shares during the period. Apollo Global Management accounts for 1.5% of Motco’s investment portfolio, making the stock its 7th biggest position. Motco’s holdings in Apollo Global Management were worth $15,018,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APO. Geode Capital Management LLC boosted its holdings in Apollo Global Management by 4.7% in the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after acquiring an additional 254,268 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Apollo Global Management by 42.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock valued at $436,148,000 after purchasing an additional 782,700 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Apollo Global Management by 27.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after purchasing an additional 383,557 shares in the last quarter. Janus Henderson Group PLC increased its stake in Apollo Global Management by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock worth $167,298,000 after buying an additional 4,892 shares during the period. Finally, Swiss National Bank lifted its holdings in Apollo Global Management by 0.4% in the 3rd quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock worth $147,670,000 after buying an additional 4,600 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

NYSE:APO opened at $147.29 on Friday. The firm has a market cap of $83.34 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company’s 50-day moving average price is $163.83 and its two-hundred day moving average price is $148.73.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.4625 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.26%. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on APO shares. TD Cowen raised their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Piper Sandler increased their price objective on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their price target on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Citigroup increased their price objective on shares of Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods cut their target price on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average price target of $165.74.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 58,200 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the sale, the insider now owns 35,104,773 shares in the company, valued at approximately $6,086,114,495.01. The trade was a 0.17 % decrease in their position. 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 firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 201,600 shares of company stock worth $34,977,528 in the last ninety days. Company insiders own 8.50% of the company’s stock.

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.