abrdn plc Has $32.18 Million Holdings in Apollo Global Management, Inc. (NYSE:APO)

abrdn plc reduced its holdings in Apollo Global Management, Inc. (NYSE:APO) by 3.1% during the 4th quarter, Holdings Channel reports. The fund owned 193,939 shares of the financial services provider’s stock after selling 6,287 shares during the quarter. abrdn plc’s holdings in Apollo Global Management were worth $32,177,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Apollo Global Management in the 4th quarter worth approximately $39,000. UMB Bank n.a. boosted its holdings in shares of Apollo Global Management by 447.1% in the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 228 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of Apollo Global Management in the 3rd quarter worth approximately $35,000. Versant Capital Management Inc raised its position in Apollo Global Management by 203.6% in the 4th quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 336 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in Apollo Global Management in the 4th quarter worth approximately $97,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APO. TD Cowen boosted their price objective on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. BMO Capital Markets boosted their price objective on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Piper Sandler boosted 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 report on Wednesday, December 18th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company dropped their price objective on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a research report on Wednesday. One research 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.00.

Apollo Global Management Price Performance

APO opened at $165.84 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 has a fifty day simple moving average of $169.55 and a 200 day simple moving average of $144.25. The stock has a market cap of $93.84 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.37 and a beta of 1.63.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Leon D. Black sold 133,400 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the transaction, the insider now directly owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 196,600 shares of company stock worth $34,186,128 in the last quarter. Corporate insiders own 8.50% of the company’s stock.

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.