Legacy Capital Wealth Partners LLC Lowers Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Legacy Capital Wealth Partners LLC trimmed its position in Apollo Global Management, Inc. (NYSE:APO) by 32.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,820 shares of the financial services provider’s stock after selling 1,858 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Apollo Global Management were worth $631,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Byrne Asset Management LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter worth about $37,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter worth about $39,000. UMB Bank n.a. lifted its holdings in shares of Apollo Global Management by 447.1% in the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock worth $46,000 after buying an additional 228 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Apollo Global Management by 203.6% in the fourth quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider’s stock worth $83,000 after buying an additional 336 shares in the last quarter. Finally, Y.D. More Investments Ltd purchased a new stake in shares of Apollo Global Management in the fourth quarter worth about $89,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Up 3.2 %

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. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The firm’s fifty day moving average is $167.64 and its 200 day moving average is $146.12. The company has a market cap of $92.20 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.28 and a beta of 1.63.

Apollo Global Management Cuts Dividend

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

Analysts Set New Price Targets

APO has been the topic of a number of recent analyst reports. UBS Group raised shares of Apollo Global Management to a “hold” rating in a research note on Wednesday, November 13th. TD Cowen raised their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods lowered 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 research note on Wednesday, February 5th. The Goldman Sachs Group raised their target price on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, BMO Capital Markets raised their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $165.74.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the transaction, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Leon D. Black sold 133,400 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 35,471,373 shares in the company, valued at approximately $6,177,694,321.68. The trade was a 0.37 % decrease in their ownership of the stock. 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 three months. 8.50% of the stock is owned by company insiders.

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.