IFP Advisors Inc Lowers Stake in Apollo Global Management, Inc. (NYSE:APO)

IFP Advisors Inc lowered its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 20.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,187 shares of the financial services provider’s stock after selling 3,155 shares during the period. IFP Advisors Inc’s holdings in Apollo Global Management were worth $2,013,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Partners Group Holding AG boosted its position in shares of Apollo Global Management by 26.5% during the 3rd quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock worth $96,896,000 after purchasing an additional 162,678 shares during the period. Kestra Private Wealth Services LLC purchased a new position in shares of Apollo Global Management during the 4th quarter worth approximately $3,994,000. Swedbank AB boosted its position in shares of Apollo Global Management by 50.9% during the 3rd quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock worth $9,735,000 after purchasing an additional 26,300 shares during the period. Fortress Financial Solutions LLC purchased a new position in shares of Apollo Global Management during the 4th quarter worth approximately $685,000. Finally, Leavell Investment Management Inc. boosted its position in shares of Apollo Global Management by 39.8% during the 4th quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock worth $1,016,000 after purchasing an additional 1,750 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 1.6 %

Shares of NYSE:APO opened at $145.48 on Wednesday. The company has a market cap of $82.31 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 1.17 and a beta of 1.63. The firm’s 50-day simple moving average is $164.68 and its 200-day simple moving average is $148.75. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Insider Activity

In related news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the completion of the sale, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Leon D. Black sold 133,400 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the sale, the insider now owns 35,471,373 shares of the company’s stock, valued at $6,177,694,321.68. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 201,600 shares of company stock valued at $34,977,528 over the last quarter. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on APO shares. TD Cowen increased 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. Piper Sandler increased their target price on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Barclays increased their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.74.

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.