Nippon Life Global Investors Americas Inc. Has $1.11 Million Holdings in Apollo Global Management, Inc. (NYSE:APO)

Nippon Life Global Investors Americas Inc. reduced its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 9.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,730 shares of the financial services provider’s stock after selling 670 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Apollo Global Management were worth $1,112,000 at the end of the most recent quarter.

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

Insider Activity

In related news, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares in the company, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $119.62 on Tuesday. The business has a fifty day moving average of $137.28 and a 200-day moving average of $153.44. The firm has a market cap of $68.24 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.4625 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.55%. Apollo Global Management’s payout ratio is 25.31%.

Analyst Ratings Changes

Several research analysts have commented on APO shares. Wells Fargo & Company dropped their price target on Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Barclays reduced their price target on shares of Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Bank of America increased their target price on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 4th. Morgan Stanley cut their price target on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Finally, Piper Sandler lowered their price objective on Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

Apollo Global Management Company 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.