Apollo Global Management, Inc. (NYSE:APO) Shares Sold by AXQ Capital LP

AXQ Capital LP lessened its position in Apollo Global Management, Inc. (NYSE:APO) by 22.3% during the fourth quarter, Holdings Channel reports. The fund owned 8,319 shares of the financial services provider’s stock after selling 2,388 shares during the quarter. Apollo Global Management comprises approximately 0.6% of AXQ Capital LP’s investment portfolio, making the stock its 25th largest position. AXQ Capital LP’s holdings in Apollo Global Management were worth $1,374,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of APO. Hopwood Financial Services Inc. bought a new stake in shares of Apollo Global Management during the 4th quarter worth about $33,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Apollo Global Management during the 4th quarter worth about $34,000. Byrne Asset Management LLC bought a new stake in shares of Apollo Global Management during the 4th quarter worth about $37,000. Retirement Wealth Solutions LLC bought a new stake in shares of Apollo Global Management during the 4th quarter worth about $39,000. Finally, HM Payson & Co. bought a new stake in shares of Apollo Global Management during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

APO has been the topic of a number of research reports. BMO Capital Markets boosted 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. Piper Sandler lifted their target price 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. Keefe, Bruyette & Woods dropped their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. TD Cowen lifted their target price 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. Finally, Barclays lifted their target price on shares of 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus price target of $165.21.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $143.53 on Friday. The firm has a fifty day simple moving average of $154.31 and a 200-day simple moving average of $151.74. 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, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49. The stock has a market capitalization of $81.88 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 34,604,773 shares in the company, valued at $4,913,877,766. This trade represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.

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.