Allspring Global Investments Holdings LLC Sells 8,331 Shares of Apollo Global Management Inc. $APO

Allspring Global Investments Holdings LLC lowered its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 14.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,900 shares of the financial services provider’s stock after selling 8,331 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Apollo Global Management were worth $6,784,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. GW&K Investment Management LLC grew its holdings in Apollo Global Management by 84.5% during the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares in the last quarter. ORG Partners LLC grew its stake in Apollo Global Management by 285.0% in the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 171 shares during the period. Bay Harbor Wealth Management LLC grew its stake in Apollo Global Management by 5,200.0% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 260 shares during the period. Rise Advisors LLC bought a new position in Apollo Global Management in the 1st quarter valued at $42,000. Finally, Meeder Asset Management Inc. grew its stake in Apollo Global Management by 118.6% in the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 172 shares during the period. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

APO has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Apollo Global Management in a research note on Wednesday, October 8th. Evercore ISI upped their price objective on Apollo Global Management from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Barclays dropped their price target on Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. Finally, Wells Fargo & Company upped their price target on Apollo Global Management from $160.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average price target of $161.14.

Apollo Global Management Stock Performance

Shares of APO opened at $121.55 on Monday. The stock’s 50-day simple moving average is $134.27 and its 200 day simple moving average is $135.79. The stock has a market capitalization of $69.53 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.39 and a beta of 1.68. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $189.49.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. The business had revenue of $6,550,000 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.During the same quarter in the prior year, the firm posted $1.64 EPS. Research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s dividend payout ratio is currently 38.13%.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at $48,234,418.89. This represents a 4.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the transaction, the insider owned 83,192 shares in the company, valued at $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 935,000 shares of company stock worth $125,543,790 in the last ninety days. 8.50% of the stock is currently owned by insiders.

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.