Incline Global Management LLC Lowers Holdings in Apollo Global Management, Inc. (NYSE:APO)

Incline Global Management LLC cut its holdings in Apollo Global Management, Inc. (NYSE:APO) by 16.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,792 shares of the financial services provider’s stock after selling 15,079 shares during the period. Apollo Global Management accounts for 4.1% of Incline Global Management LLC’s holdings, making the stock its 17th biggest holding. Incline Global Management LLC’s holdings in Apollo Global Management were worth $9,342,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its holdings in Apollo Global Management by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock worth $517,527,000 after purchasing an additional 126,859 shares in the last quarter. TD Asset Management Inc lifted its holdings in Apollo Global Management by 3.8% in the 2nd quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock worth $318,522,000 after purchasing an additional 97,797 shares in the last quarter. Curated Wealth Partners LLC lifted its holdings in Apollo Global Management by 200.3% in the 2nd quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock worth $278,945,000 after purchasing an additional 4,717,661 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Apollo Global Management by 27.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after purchasing an additional 383,557 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Apollo Global Management by 0.4% in 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 purchasing an additional 4,892 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on APO shares. StockNews.com raised Apollo Global Management from a “sell” rating to a “hold” rating in a research note on Monday. Keefe, Bruyette & Woods lifted their price objective on Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Bank of America raised Apollo Global Management from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $124.00 to $123.00 in a research note on Tuesday, August 6th. Piper Sandler started coverage on Apollo Global Management in a research note on Tuesday, November 19th. They issued an “overweight” rating and a $188.00 price objective on the stock. Finally, Citigroup lifted their price objective on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average price target of $155.05.

Apollo Global Management Trading Up 0.4 %

Apollo Global Management stock traded up $0.75 during mid-day trading on Tuesday, hitting $173.09. The company’s stock had a trading volume of 175,568 shares, compared to its average volume of 2,694,884. The company has a 50 day moving average of $148.51 and a 200-day moving average of $126.81. The stock has a market cap of $97.94 billion, a PE ratio of 18.01, a P/E/G ratio of 1.81 and a beta of 1.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. Apollo Global Management, Inc. has a one year low of $88.58 and a one year high of $176.75.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were issued a $0.463 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.07%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, November 18th. Apollo Global Management’s dividend payout ratio is currently 19.33%.

Apollo Global Management 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.