Apollo Global Management, Inc. (NYSE:APO) Stock Position Cut by Beck Mack & Oliver LLC

Beck Mack & Oliver LLC decreased its position in Apollo Global Management, Inc. (NYSE:APO) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,953,242 shares of the financial services provider’s stock after selling 115,981 shares during the period. Apollo Global Management comprises 9.0% of Beck Mack & Oliver LLC’s investment portfolio, making the stock its biggest position. Beck Mack & Oliver LLC owned approximately 0.52% of Apollo Global Management worth $487,757,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Kestra Private Wealth Services LLC acquired a new stake in Apollo Global Management in the 4th quarter worth about $3,994,000. Fortress Financial Solutions LLC purchased a new position in shares of Apollo Global Management in the fourth quarter valued at approximately $685,000. Leavell Investment Management Inc. boosted its stake in shares of Apollo Global Management by 39.8% in the fourth quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock worth $1,016,000 after acquiring an additional 1,750 shares during the last quarter. Amundi increased its position in shares of Apollo Global Management by 13.2% during the fourth quarter. Amundi now owns 801,260 shares of the financial services provider’s stock worth $129,788,000 after purchasing an additional 93,451 shares in the last quarter. Finally, State of Michigan Retirement System acquired a new position in Apollo Global Management in the 4th quarter valued at $20,034,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Leon D. Black sold 500,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the sale, the insider now directly owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. The trade was a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on APO. Wells Fargo & Company dropped their price objective on shares of Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Piper Sandler cut their price objective on shares of Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Citigroup reduced their target price on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. TD Cowen dropped their price target on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Bank of America lifted their target price on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

Apollo Global Management Trading Up 1.3 %

APO opened at $126.78 on Friday. 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 52 week low of $95.11 and a 52 week high of $189.49. The business’s 50 day moving average is $138.04 and its two-hundred day moving average is $153.25. The firm has a market cap of $72.33 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 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.