Kestra Investment Management LLC Decreases Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Kestra Investment Management LLC decreased its holdings in Apollo Global Management, Inc. (NYSE:APO) by 30.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,643 shares of the financial services provider’s stock after selling 2,900 shares during the period. Kestra Investment Management LLC’s holdings in Apollo Global Management were worth $1,097,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its position in shares of Apollo Global Management by 2,300.0% during the 4th quarter. Venturi Wealth Management LLC now owns 600 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 575 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Apollo Global Management by 4.7% during the fourth quarter. D.A. Davidson & CO. now owns 10,082 shares of the financial services provider’s stock worth $1,665,000 after buying an additional 452 shares during the period. Truist Financial Corp increased its position in shares of Apollo Global Management by 1.5% during the fourth quarter. Truist Financial Corp now owns 220,532 shares of the financial services provider’s stock valued at $36,423,000 after acquiring an additional 3,342 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Apollo Global Management by 273.7% in the 4th quarter. CIBC Asset Management Inc now owns 71,346 shares of the financial services provider’s stock valued at $11,784,000 after acquiring an additional 52,252 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Apollo Global Management by 813.6% in the 4th quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock worth $89,646,000 after acquiring an additional 483,369 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

APO has been the topic of several research reports. Barclays increased their target price on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Evercore ISI increased their price target on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Wells Fargo & Company reduced their target price on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $165.74.

Apollo Global Management Trading Up 3.2 %

Shares of NYSE:APO opened at $162.95 on Tuesday. The company has a 50 day moving average of $167.45 and a 200-day moving average of $146.60. 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 cap of $92.20 billion, a P/E ratio of 22.29, a P/E/G ratio of 1.28 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.

Apollo Global Management Cuts Dividend

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

Insider Buying and Selling

In related news, insider Leon D. Black sold 58,200 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. The trade was a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the company’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 transaction, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 201,600 shares of company stock worth $34,977,528 in the last ninety days. 8.50% of the stock is currently owned by corporate 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.