MONECO Advisors LLC Boosts Stake in Apollo Global Management, Inc. (NYSE:APO)

MONECO Advisors LLC grew its stake in Apollo Global Management, Inc. (NYSE:APO) by 7.5% during the fourth quarter, HoldingsChannel reports. The fund owned 1,975 shares of the financial services provider’s stock after acquiring an additional 137 shares during the quarter. MONECO Advisors LLC’s holdings in Apollo Global Management were worth $326,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Apollo Global Management by 813.6% in the fourth quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock worth $89,646,000 after purchasing an additional 483,369 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after purchasing an additional 383,557 shares during the last quarter. Holocene Advisors LP increased its position in shares of Apollo Global Management by 530.9% during the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock worth $50,242,000 after purchasing an additional 338,472 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of Apollo Global Management during the fourth quarter worth $50,601,000. Finally, Geode Capital Management LLC boosted its position in shares of Apollo Global Management by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after purchasing an additional 254,268 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Trading Down 1.9 %

Apollo Global Management stock opened at $147.70 on Tuesday. 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 firm has a market cap of $83.57 billion, a PE ratio of 20.21, a P/E/G ratio of 1.21 and a beta of 1.63. The stock’s 50 day simple moving average is $165.30 and its two-hundred day simple moving average is $148.46. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.25%. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group upgraded shares of Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. Citigroup upped their price target on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Barclays boosted their price objective on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Piper Sandler upped their target price on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, TD Cowen raised their target price on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $165.74.

Insider Activity at Apollo Global Management

In other news, insider Leon D. Black sold 58,200 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the transaction, the insider now owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This trade represents a 0.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the sale, the chief financial officer now directly owns 320,564 shares in the company, valued at $55,332,552.04. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,600 shares of company stock worth $34,977,528. 8.50% of the stock is owned by company insiders.

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.