Bleakley Financial Group LLC Cuts Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Bleakley Financial Group LLC reduced its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 3.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 18,829 shares of the financial services provider’s stock after selling 653 shares during the period. Bleakley Financial Group LLC’s holdings in Apollo Global Management were worth $3,110,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in APO. Compagnie Lombard Odier SCmA purchased a new stake in shares of Apollo Global Management in the 3rd quarter worth about $35,000. Retirement Wealth Solutions LLC acquired a new stake in Apollo Global Management during the 4th quarter worth approximately $39,000. UMB Bank n.a. lifted its holdings in shares of Apollo Global Management by 447.1% during the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 228 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Apollo Global Management in the third quarter worth about $80,000. Finally, Truvestments Capital LLC acquired a new position in shares of Apollo Global Management during the third quarter worth $83,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Down 0.6 %

Shares of Apollo Global Management stock opened at $164.76 on Friday. The company has a market cap of $93.22 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.37 and a beta of 1.63. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. 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 stock has a 50-day moving average price of $169.37 and a 200 day moving average price of $144.39.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be given a $0.4625 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.12%. Apollo Global Management’s payout ratio is 19.33%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction 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 $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Leon D. Black sold 133,400 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $174.16, for a total value of $23,232,944.00. Following the completion of the sale, the insider now directly owns 35,471,373 shares in the company, 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. Over the last 90 days, insiders sold 196,600 shares of company stock valued at $34,186,128. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on APO. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Piper Sandler upped their target price on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. TD Cowen lifted their price objective on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Citigroup increased their price target on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Barclays upped their target price on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.00.

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.