Envestnet Portfolio Solutions Inc. Acquires 1,274 Shares of Apollo Global Management, Inc. (NYSE:APO)

Envestnet Portfolio Solutions Inc. lifted its holdings in Apollo Global Management, Inc. (NYSE:APO) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,687 shares of the financial services provider’s stock after acquiring an additional 1,274 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Apollo Global Management were worth $2,591,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in APO. CIBC Asset Management Inc boosted its stake in Apollo Global Management by 4.9% in the 3rd quarter. CIBC Asset Management Inc now owns 19,094 shares of the financial services provider’s stock worth $2,385,000 after purchasing an additional 899 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Apollo Global Management by 4.1% in the third quarter. Natixis Advisors LLC now owns 156,585 shares of the financial services provider’s stock worth $19,559,000 after buying an additional 6,197 shares in the last quarter. Claro Advisors LLC boosted its position in shares of Apollo Global Management by 5.7% during the third quarter. Claro Advisors LLC now owns 1,869 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 100 shares during the last quarter. Quest Partners LLC bought a new position in shares of Apollo Global Management during the third quarter worth $1,079,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Apollo Global Management in the 3rd quarter valued at $2,125,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of APO opened at $143.38 on Thursday. The stock has a market capitalization of $81.80 billion, a PE ratio of 19.61, a PEG ratio of 1.17 and a beta of 1.66. The company has a 50 day moving average price of $154.89 and a 200-day moving average price of $151.59. 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, 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 business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.29%. Apollo Global Management’s dividend payout ratio (DPR) is presently 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 stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares of the company’s stock, 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 through this link. Company insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on APO. TD Cowen raised their price objective on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Barclays raised their price objective on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. BMO Capital Markets lifted their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Piper Sandler boosted their target price on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. One equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $165.74.

Apollo Global Management 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.