Motco Trims Holdings in Apollo Global Management, Inc. (NYSE:APO)

Motco reduced its holdings in Apollo Global Management, Inc. (NYSE:APO) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,931 shares of the financial services provider’s stock after selling 6,845 shares during the quarter. Apollo Global Management accounts for about 1.5% of Motco’s investment portfolio, making the stock its 7th largest holding. Motco’s holdings in Apollo Global Management were worth $15,018,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in APO. Menard Financial Group LLC lifted its holdings in shares of Apollo Global Management by 1.2% during the third quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 71 shares during the period. Sfmg LLC lifted its stake in Apollo Global Management by 1.1% in the third quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock valued at $902,000 after buying an additional 79 shares during the period. Cigna Investments Inc. New lifted its position 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 acquiring an additional 90 shares during the period. Global Retirement Partners LLC grew its holdings in Apollo Global Management by 0.9% in the fourth quarter. Global Retirement Partners LLC now owns 9,924 shares of the financial services provider’s stock worth $1,639,000 after purchasing an additional 90 shares during the period. Finally, Allworth Financial LP increased its stake in Apollo Global Management by 14.3% in the third quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 91 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

APO has been the topic of a number of research reports. BMO Capital Markets upped their target price on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Evercore ISI lifted their price objective on shares of Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. TD Cowen upped their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Piper Sandler lifted their price target on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.74.

Apollo Global Management Trading Down 0.2 %

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

Apollo Global Management Cuts Dividend

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

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 377,164 shares in the company, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leon D. Black sold 58,200 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the completion of the sale, the insider now directly owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. This trade represents a 0.17 % 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. Insiders own 8.50% of the company’s stock.

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.