Secured Retirement Advisors LLC Sells 1,800 Shares of Apollo Global Management, Inc. (NYSE:APO)

Secured Retirement Advisors LLC lessened its holdings in Apollo Global Management, Inc. (NYSE:APO) by 15.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,813 shares of the financial services provider’s stock after selling 1,800 shares during the quarter. Secured Retirement Advisors LLC’s holdings in Apollo Global Management were worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP grew its stake in Apollo Global Management by 26.1% in the 4th quarter. Allworth Financial LP now owns 919 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 190 shares during the period. Principal Securities Inc. grew its stake in Apollo Global Management by 23.4% in the 4th quarter. Principal Securities Inc. now owns 3,834 shares of the financial services provider’s stock valued at $633,000 after purchasing an additional 727 shares during the period. BXM Wealth LLC bought a new position in Apollo Global Management in the 4th quarter valued at $248,000. Myriad Asset Management US LP bought a new position in Apollo Global Management in the 4th quarter valued at $2,188,000. Finally, Rhumbline Advisers grew its stake in Apollo Global Management by 39.3% in the 4th quarter. Rhumbline Advisers now owns 823,142 shares of the financial services provider’s stock valued at $135,950,000 after purchasing an additional 232,298 shares during the period. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $162.95 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $92.20 billion, a P/E ratio of 22.29, a P/E/G ratio of 1.28 and a beta of 1.63. The stock’s 50-day simple moving average is $167.64 and its two-hundred day simple moving average is $146.12. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.4625 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.14%. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

Insider Activity

In other news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the transaction, the chief financial officer now directly owns 320,564 shares in the company, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leon D. Black sold 133,400 shares of the stock in a transaction dated 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 transaction, the insider now owns 35,471,373 shares in the company, valued at $6,177,694,321.68. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,600 shares of company stock worth $34,977,528. 8.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on APO. Wells Fargo & Company dropped their price target on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Evercore ISI upped their price target on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their price target on Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley upped their price target on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Finally, Piper Sandler increased their price objective on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $165.74.

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.