Allspring Global Investments Holdings LLC Sells 27,501 Shares of Apollo Global Management Inc. $APO

Allspring Global Investments Holdings LLC trimmed its position in shares of Apollo Global Management Inc. (NYSE:APO) by 57.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,399 shares of the financial services provider’s stock after selling 27,501 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Apollo Global Management were worth $2,651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in APO. Charles Schwab Investment Management Inc. boosted its position in shares of Apollo Global Management by 1.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,050,164 shares of the financial services provider’s stock worth $432,727,000 after acquiring an additional 36,866 shares in the last quarter. Amundi boosted its holdings in shares of Apollo Global Management by 68.9% in the 2nd quarter. Amundi now owns 1,311,102 shares of the financial services provider’s stock valued at $187,199,000 after purchasing an additional 534,904 shares in the last quarter. Heard Capital LLC increased its stake in shares of Apollo Global Management by 14.1% in the 2nd quarter. Heard Capital LLC now owns 1,274,970 shares of the financial services provider’s stock valued at $180,880,000 after purchasing an additional 157,750 shares during the last quarter. Swiss National Bank increased its stake in shares of Apollo Global Management by 8.2% in the 2nd quarter. Swiss National Bank now owns 1,208,914 shares of the financial services provider’s stock valued at $171,509,000 after purchasing an additional 91,800 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Apollo Global Management by 0.6% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 962,514 shares of the financial services provider’s stock worth $136,552,000 after buying an additional 6,117 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $146.22 on Friday. The company has a market capitalization of $84.87 billion, a PE ratio of 21.38, a P/E/G ratio of 1.25 and a beta of 1.59. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $174.91. The firm has a fifty day simple moving average of $138.31 and a 200 day simple moving average of $137.81.

Apollo Global Management Announces Dividend

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

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 6,000 shares of Apollo Global Management stock in a transaction 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 of the company’s stock, valued at approximately $42,787,621.64. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

APO has been the topic of a number of research analyst reports. UBS Group began coverage on shares of Apollo Global Management in a research report on Thursday, December 11th. They issued a “buy” rating and a $186.00 target price on the stock. Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research note on Tuesday, November 25th. Wall Street Zen upgraded Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a report on Tuesday, October 7th. Finally, Barclays increased their target price on Apollo Global Management from $159.00 to $172.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $166.23.

Apollo Global Management Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.