Accuvest Global Advisors Sells 14,931 Shares of Apollo Global Management, Inc. (NYSE:APO)

Accuvest Global Advisors lowered its position in Apollo Global Management, Inc. (NYSE:APO) by 40.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,400 shares of the financial services provider’s stock after selling 14,931 shares during the period. Apollo Global Management comprises 5.3% of Accuvest Global Advisors’ investment portfolio, making the stock its 9th biggest position. Accuvest Global Advisors’ holdings in Apollo Global Management were worth $3,758,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Partners Group Holding AG increased its holdings in Apollo Global Management by 26.5% in the third quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock worth $96,896,000 after buying an additional 162,678 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new position in Apollo Global Management in the fourth quarter worth approximately $3,994,000. Swedbank AB grew its holdings in Apollo Global Management by 50.9% during the third quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock valued at $9,735,000 after purchasing an additional 26,300 shares during the last quarter. Fortress Financial Solutions LLC acquired a new position in Apollo Global Management during the fourth quarter valued at approximately $685,000. Finally, Ameritas Advisory Services LLC acquired a new position in Apollo Global Management during the fourth quarter valued at approximately $648,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the firm’s 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 in the company, valued at approximately $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Leon D. Black sold 58,200 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the completion of the sale, the insider now owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. This trade represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,600 shares of company stock valued at $34,977,528. 8.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

APO has been the topic of several analyst reports. Morgan Stanley increased their price target on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Keefe, Bruyette & Woods lowered their price target on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Wells Fargo & Company lowered their price target on 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, Piper Sandler raised their price objective on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.74.

Apollo Global Management Stock Down 0.5 %

Shares of NYSE APO opened at $161.97 on Wednesday. The stock has a market cap of $91.65 billion, a PE ratio of 22.16, a PEG ratio of 1.28 and a beta of 1.63. The business has a fifty day moving average of $167.19 and a two-hundred day moving average of $147.01. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. 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 Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.4625 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.14%. Apollo Global Management’s payout ratio is presently 25.31%.

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.