Axxcess Wealth Management LLC Sells 1,963 Shares of Apollo Global Management, Inc. (NYSE:APO)

Axxcess Wealth Management LLC lowered its position in Apollo Global Management, Inc. (NYSE:APO) by 10.0% during the 4th quarter, Holdings Channel reports. The firm owned 17,731 shares of the financial services provider’s stock after selling 1,963 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Apollo Global Management were worth $2,929,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Apollo Global Management by 60.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock worth $479,057,000 after buying an additional 1,094,464 shares during the period. Bank of New York Mellon Corp lifted its stake in Apollo Global Management by 42.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock worth $436,148,000 after acquiring an additional 782,700 shares during the period. Proficio Capital Partners LLC grew its holdings in Apollo Global Management by 15,187.7% during the 4th quarter. Proficio Capital Partners LLC now owns 639,027 shares of the financial services provider’s stock worth $105,542,000 after acquiring an additional 634,847 shares in the last quarter. Principal Financial Group Inc. increased its position in Apollo Global Management by 813.6% during the 4th quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock valued at $89,646,000 after purchasing an additional 483,369 shares during the period. Finally, Holocene Advisors LP raised its holdings in shares of Apollo Global Management by 530.9% in the 3rd quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock valued at $50,242,000 after purchasing an additional 338,472 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APO has been the topic of several research reports. Piper Sandler lifted their price objective on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Morgan Stanley upped their price objective on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. The Goldman Sachs Group boosted their target price on shares of Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.74.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now directly owns 377,164 shares in the company, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $137.39 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The company’s 50 day moving average is $155.26 and its 200 day moving average is $151.65. The company has a market cap of $78.38 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.35%. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

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.