Kestra Investment Management LLC Sells 5,245 Shares of Apollo Global Management Inc. $APO

Kestra Investment Management LLC reduced its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 52.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,737 shares of the financial services provider’s stock after selling 5,245 shares during the quarter. Kestra Investment Management LLC’s holdings in Apollo Global Management were worth $672,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Fortress Financial Solutions LLC lifted its position in shares of 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 worth $647,000 after acquiring an additional 74 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Apollo Global Management by 44.0% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 252 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 77 shares during the period. Tower Wealth Partners Inc. lifted its holdings in Apollo Global Management by 4.7% during the 2nd quarter. Tower Wealth Partners Inc. now owns 2,086 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 94 shares in the last quarter. Angeles Wealth Management LLC lifted its holdings in Apollo Global Management by 2.0% during the 2nd quarter. Angeles Wealth Management LLC now owns 4,964 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 99 shares in the last quarter. Finally, Waterfront Wealth Inc. boosted its stake in Apollo Global Management by 1.4% in the 2nd quarter. Waterfront Wealth Inc. now owns 7,428 shares of the financial services provider’s stock worth $1,054,000 after purchasing an additional 100 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APO. Morgan Stanley upgraded Apollo Global Management from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $151.00 to $180.00 in a research report on Thursday, November 20th. Wall Street Zen raised shares of Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Piper Sandler reiterated an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. Evercore ISI boosted their price target on shares of Apollo Global Management from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Finally, Citigroup lowered their price objective on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $166.23.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $147.01 on Tuesday. The company’s fifty day moving average price is $130.05 and its 200-day moving average price is $136.09. The firm has a market capitalization of $85.33 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.46 and a beta of 1.61. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $179.42. 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 Dividend Announcement

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

Insider Activity

In related news, CFO Martin Kelly sold 6,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $131.41, for a total transaction of $788,460.00. Following the transaction, the chief financial officer directly owned 325,604 shares of the company’s stock, valued at approximately $42,787,621.64. This trade represents a 1.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 8.50% of the company’s stock.

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.