Atria Investments Inc Reduces Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Atria Investments Inc lowered its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,452 shares of the financial services provider’s stock after selling 2,046 shares during the quarter. Atria Investments Inc’s holdings in Apollo Global Management were worth $2,882,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of APO. Charles Schwab Investment Management Inc. boosted its holdings in Apollo Global Management by 60.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after acquiring an additional 1,094,464 shares during the period. Bank of New York Mellon Corp boosted its holdings in Apollo Global Management by 42.1% during the 4th 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 acquiring an additional 782,700 shares during the period. Proficio Capital Partners LLC boosted its holdings in Apollo Global Management by 15,187.7% during the 4th quarter. Proficio Capital Partners LLC now owns 639,027 shares of the financial services provider’s stock valued at $105,542,000 after acquiring an additional 634,847 shares during the period. Principal Financial Group Inc. boosted its holdings in Apollo Global Management by 813.6% during the 4th quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock valued at $89,646,000 after acquiring an additional 483,369 shares during the period. Finally, Holocene Advisors LP boosted its holdings in Apollo Global Management by 530.9% during the 3rd quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock valued at $50,242,000 after acquiring an additional 338,472 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the transaction, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 8.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on APO. BMO Capital Markets boosted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. TD Cowen lifted their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Piper Sandler lifted their target price on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Barclays lifted their target price on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods decreased their target price on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.74.

Apollo Global Management Trading Down 1.6 %

APO opened at $132.63 on Friday. The firm has a market cap of $75.66 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 1.17 and a beta of 1.66. The company has a current ratio of 1.44, a quick 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 stock has a fifty day moving average price of $159.88 and a 200-day moving average price of $150.35.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.39%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 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.