NewEdge Wealth LLC Sells 5,908 Shares of Apollo Global Management, Inc. (NYSE:APO)

NewEdge Wealth LLC cut its holdings in Apollo Global Management, Inc. (NYSE:APO) by 8.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 62,027 shares of the financial services provider’s stock after selling 5,908 shares during the quarter. NewEdge Wealth LLC’s holdings in Apollo Global Management were worth $10,244,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of APO. Private Advisor Group LLC boosted its holdings in shares of Apollo Global Management by 4.1% in the third quarter. Private Advisor Group LLC now owns 10,741 shares of the financial services provider’s stock valued at $1,342,000 after buying an additional 423 shares during the period. Allworth Financial LP lifted its position in Apollo Global Management by 14.3% in the 3rd quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 91 shares in the last quarter. Autumn Glory Partners LLC acquired a new position in Apollo Global Management in the 3rd quarter worth $255,000. abrdn plc increased its holdings in Apollo Global Management by 41.3% during the 3rd quarter. abrdn plc now owns 200,226 shares of the financial services provider’s stock worth $24,977,000 after purchasing an additional 58,485 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Apollo Global Management in the 3rd quarter valued at about $181,000. 77.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. TD Cowen upped their price objective on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Citigroup upped their price target on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lowered their price objective 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. 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 report on Thursday, December 19th. Finally, Evercore ISI lifted their price target on shares of Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.74.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the transaction, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at $55,332,552.04. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon D. Black sold 58,200 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the completion of the transaction, the insider now owns 35,104,773 shares of the company’s stock, valued at $6,086,114,495.01. The trade was a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,600 shares of company stock valued at $34,977,528 in the last three months. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $147.45 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The company’s 50 day moving average price is $164.28 and its two-hundred day moving average price is $148.74. The firm has a market cap of $83.43 billion, a PE ratio of 20.17, a PEG ratio of 1.17 and a beta of 1.63.

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 paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.25%. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

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.