Wedbush Securities Inc. Has $503,000 Position in Apollo Global Management, Inc. (NYSE:APO)

Wedbush Securities Inc. decreased its stake in Apollo Global Management, Inc. (NYSE:APO) by 69.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,048 shares of the financial services provider’s stock after selling 6,969 shares during the period. Wedbush Securities Inc.’s holdings in Apollo Global Management were worth $503,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in APO. Aviva PLC raised its holdings in Apollo Global Management by 124.8% during the 4th quarter. Aviva PLC now owns 434,389 shares of the financial services provider’s stock worth $71,744,000 after purchasing an additional 241,179 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Apollo Global Management during the fourth quarter worth $1,364,000. Resona Asset Management Co. Ltd. acquired a new position in Apollo Global Management in the fourth quarter valued at $19,388,000. Islay Capital Management LLC lifted its holdings in Apollo Global Management by 4.9% in the fourth quarter. Islay Capital Management LLC now owns 8,037 shares of the financial services provider’s stock valued at $1,327,000 after buying an additional 375 shares during the period. Finally, Riverwater Partners LLC acquired a new stake in Apollo Global Management during the 4th quarter worth about $325,000. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $110.06 on Wednesday. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year 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. The stock has a market cap of $62.78 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The stock’s fifty day simple moving average is $144.98 and its two-hundred day simple moving average is $153.60.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.68%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on APO. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Barclays cut their price target on Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday. Piper Sandler lowered 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 note on Wednesday, April 2nd. Morgan Stanley boosted their target price on shares of 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, Keefe, Bruyette & Woods reduced their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. 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, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.68.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lb 2018 Gst Trust bought 607,725 shares of Apollo Global Management stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the acquisition, the insider now owns 621,754 shares of the company’s stock, valued at $69,257,178.06. This represents a 4,331.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by 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.