Legal & General Group Plc Reduces Stake in Apollo Global Management Inc. $APO

Legal & General Group Plc cut its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 0.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,269,690 shares of the financial services provider’s stock after selling 20,324 shares during the quarter. Legal & General Group Plc’s holdings in Apollo Global Management were worth $463,871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. GW&K Investment Management LLC increased its stake in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares during the period. Activest Wealth Management boosted its holdings in Apollo Global Management by 875.0% in the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 175 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in Apollo Global Management by 6,900.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 207 shares during the period. Andra AP fonden acquired a new stake in Apollo Global Management during the 2nd quarter worth about $31,000. Finally, Bay Harbor Wealth Management LLC raised its stake in shares of Apollo Global Management by 5,200.0% during the 2nd quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock valued at $38,000 after buying an additional 260 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on APO shares. Keefe, Bruyette & Woods upped their target price on Apollo Global Management from $162.00 to $173.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Piper Sandler restated an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. BMO Capital Markets initiated coverage on shares of Apollo Global Management in a research note on Friday, October 3rd. They set a “market perform” rating and a $132.00 price objective on the stock. Evercore ISI increased their price target on shares of Apollo Global Management from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Finally, Wall Street Zen upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.08.

Insider Transactions at Apollo Global Management

In other news, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the sale, the insider owned 4,526,000 shares in the company, valued at $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Trading Up 2.5%

Shares of APO stock opened at $129.96 on Friday. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49. The company has a market cap of $74.34 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.42 and a beta of 1.63. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a 50 day simple moving average of $129.78 and a 200-day simple moving average of $135.91.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, November 17th. This represents a $2.04 dividend on an annualized basis and a yield of 1.6%. Apollo Global Management’s dividend payout ratio is currently 29.82%.

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.