Apollo Global Management Inc. $APO Shares Sold by First Trust Advisors LP

First Trust Advisors LP trimmed its holdings in Apollo Global Management Inc. (NYSE:APO) by 51.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,164 shares of the financial services provider’s stock after selling 249,498 shares during the quarter. First Trust Advisors LP’s holdings in Apollo Global Management were worth $33,930,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in APO. Fortress Financial Solutions LLC lifted its stake in Apollo Global Management by 1.6% during the second quarter. Fortress Financial Solutions LLC now owns 4,561 shares of the financial services provider’s stock valued at $647,000 after purchasing an additional 74 shares during the last quarter. Tower Wealth Partners Inc. grew its position in Apollo Global Management by 4.7% in the second quarter. Tower Wealth Partners Inc. now owns 2,086 shares of the financial services provider’s stock worth $296,000 after buying an additional 94 shares during the last quarter. Angeles Wealth Management LLC increased its holdings in shares of Apollo Global Management by 2.0% in the second quarter. Angeles Wealth Management LLC now owns 4,964 shares of the financial services provider’s stock valued at $704,000 after buying an additional 99 shares in the last quarter. Waterfront Wealth Inc. lifted its position in shares of Apollo Global Management by 1.4% during the 2nd quarter. Waterfront Wealth Inc. now owns 7,428 shares of the financial services provider’s stock valued at $1,054,000 after acquiring an additional 100 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Apollo Global Management by 16.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 786 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 109 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 6,000 shares of Apollo Global Management stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $131.41, for a total value of $788,460.00. Following the completion of the sale, the chief financial officer directly owned 325,604 shares in the company, valued at $42,787,621.64. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

APO has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their price target 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apollo Global Management in a research note on Monday. Wall Street Zen upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Morgan Stanley upgraded shares of Apollo Global Management from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $151.00 to $180.00 in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $162.85.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $143.97 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 1.49. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $179.48. The business’s 50-day moving average price is $128.36 and its two-hundred day moving average price is $135.62. The company has a market capitalization of $83.56 billion, a P/E ratio of 21.05, a price-to-earnings-growth ratio of 1.36 and a beta of 1.61.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Monday, November 17th were issued a $0.51 dividend. The ex-dividend date was Monday, November 17th. This represents a $2.04 dividend on an annualized basis and a yield of 1.4%. Apollo Global Management’s dividend payout ratio is currently 29.82%.

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.