Truist Financial Corp Sells 30,192 Shares of Apollo Global Management, Inc. (NYSE:APO)

Truist Financial Corp reduced its stake in shares of Apollo Global Management, Inc. (NYSE:APOGet Rating) by 39.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 47,027 shares of the financial services provider’s stock after selling 30,192 shares during the period. Truist Financial Corp’s holdings in Apollo Global Management were worth $2,187,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its holdings in Apollo Global Management by 31.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 732 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 177 shares in the last quarter. Cowen Prime Advisors LLC grew its holdings in shares of Apollo Global Management by 0.5% in the second quarter. Cowen Prime Advisors LLC now owns 46,064 shares of the financial services provider’s stock valued at $2,233,000 after acquiring an additional 220 shares in the last quarter. Carson Advisory Inc. lifted its stake in Apollo Global Management by 4.4% in the second quarter. Carson Advisory Inc. now owns 5,927 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 250 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Apollo Global Management by 1.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,420 shares of the financial services provider’s stock valued at $1,182,000 after purchasing an additional 256 shares during the last quarter. Finally, Wellington Shields & Co. LLC lifted its stake in Apollo Global Management by 2.8% in the second quarter. Wellington Shields & Co. LLC now owns 9,557 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 259 shares during the last quarter. 68.98% of the stock is owned by institutional investors.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 20,000 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $64.88, for a total value of $1,297,600.00. Following the transaction, the chief financial officer now owns 431,486 shares of the company’s stock, valued at $27,994,811.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on APO shares. Deutsche Bank Aktiengesellschaft upped their price objective on Apollo Global Management from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, November 15th. StockNews.com upgraded Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Wednesday, January 11th. Morgan Stanley increased their target price on Apollo Global Management from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 3rd. UBS Group dropped their target price on Apollo Global Management from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 19th. Finally, TheStreet downgraded Apollo Global Management from a “c” rating to a “d+” rating in a research report on Wednesday, November 2nd. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.64.

Apollo Global Management Trading Up 1.9 %

Apollo Global Management stock opened at $69.71 on Tuesday. The stock has a market cap of $39.89 billion, a P/E ratio of -12.36, a PEG ratio of 0.61 and a beta of 1.72. Apollo Global Management, Inc. has a fifty-two week low of $45.62 and a fifty-two week high of $71.72. The firm’s fifty day moving average price is $64.54 and its 200-day moving average price is $57.87. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.68 and a current ratio of 0.68.

Apollo Global Management (NYSE:APOGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.14. The firm had revenue of $670.50 million for the quarter, compared to analysts’ expectations of $621.08 million. Apollo Global Management had a negative net margin of 48.54% and a positive return on equity of 64.38%. Equities research analysts forecast that Apollo Global Management, Inc. will post 5 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Thursday, November 17th were paid a $0.40 dividend. The ex-dividend date was Wednesday, November 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.30%. Apollo Global Management’s dividend payout ratio is presently -28.37%.

Apollo Global Management Profile

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Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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