Beach Investment Counsel Inc. PA Has $23.02 Million Position in Apollo Global Management, Inc. (NYSE:APO)

Beach Investment Counsel Inc. PA trimmed its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 10.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,398 shares of the financial services provider’s stock after selling 16,891 shares during the quarter. Apollo Global Management accounts for approximately 3.1% of Beach Investment Counsel Inc. PA’s investment portfolio, making the stock its 9th largest position. Beach Investment Counsel Inc. PA’s holdings in Apollo Global Management were worth $23,023,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA purchased a new position in Apollo Global Management in the 3rd quarter worth about $35,000. Retirement Wealth Solutions LLC bought a new stake in shares of Apollo Global Management in the fourth quarter valued at about $39,000. UMB Bank n.a. boosted its position in Apollo Global Management by 447.1% during the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 228 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Apollo Global Management during the 3rd quarter worth $80,000. Finally, Truvestments Capital LLC acquired a new position in Apollo Global Management during the 3rd quarter valued at about $83,000. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

APO opened at $162.17 on Tuesday. 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’s 50-day moving average price is $169.96 and its 200 day moving average price is $143.80. The firm has a market capitalization of $91.76 billion, a PE ratio of 17.01, a PEG ratio of 1.37 and a beta of 1.63. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the sale, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 58,200 shares of the company’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 transaction of $10,090,134.00. Following the sale, the insider now owns 35,104,773 shares in the company, valued at $6,086,114,495.01. The trade was a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,600 shares of company stock valued at $34,186,128. Insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on APO. 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 report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft raised their target price on Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. TD Cowen increased their price objective on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. Barclays lifted their target price on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Citigroup increased their price target on shares of Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $164.32.

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.