Wambolt & Associates LLC Reduces Stake in Apollo Global Management, Inc. (NYSE:APO)

Wambolt & Associates LLC cut its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 5.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,490 shares of the financial services provider’s stock after selling 130 shares during the quarter. Wambolt & Associates LLC’s holdings in Apollo Global Management were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Apollo Global Management by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after purchasing an additional 3,691,700 shares during the period. Geode Capital Management LLC boosted its stake in shares of Apollo Global Management by 4.7% in the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after buying an additional 254,268 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Apollo Global Management by 60.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after acquiring an additional 1,094,464 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Apollo Global Management by 42.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock worth $436,148,000 after purchasing an additional 782,700 shares in the last quarter. Finally, TD Asset Management Inc. lifted its stake in shares of Apollo Global Management by 13.6% in the 4th quarter. TD Asset Management Inc. now owns 2,473,237 shares of the financial services provider’s stock valued at $408,480,000 after purchasing an additional 296,951 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Leon D. Black sold 500,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the transaction, the insider now directly owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly 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. Corporate insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on APO shares. BMO Capital Markets increased their target price 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. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods cut their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Morgan Stanley raised their target price on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Finally, Piper Sandler increased their price objective on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and an average price target of $165.21.

Apollo Global Management Stock Performance

Shares of APO opened at $148.59 on Tuesday. The company’s 50 day simple moving average is $154.19 and its 200-day simple moving average is $152.60. The firm has a market cap of $84.77 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month 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.

Apollo Global Management Cuts Dividend

The firm also recently disclosed 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. This represents a $1.85 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s payout ratio is currently 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.