Commonwealth Equity Services LLC Sells 9,170 Shares of Apollo Global Management Inc. $APO

Commonwealth Equity Services LLC decreased its position in shares of Apollo Global Management Inc. (NYSE:APO) by 16.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,587 shares of the financial services provider’s stock after selling 9,170 shares during the period. Commonwealth Equity Services LLC’s holdings in Apollo Global Management were worth $6,209,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Fortress Financial Solutions LLC raised its stake in Apollo Global Management by 1.6% in the 2nd quarter. Fortress Financial Solutions LLC now owns 4,561 shares of the financial services provider’s stock worth $647,000 after purchasing an additional 74 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its position in shares of Apollo Global Management by 44.0% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 252 shares of the financial services provider’s stock valued at $36,000 after buying an additional 77 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake in shares of Apollo Global Management by 8.5% in the third quarter. SOA Wealth Advisors LLC. now owns 1,169 shares of the financial services provider’s stock valued at $156,000 after buying an additional 92 shares during the period. Tower Wealth Partners Inc. boosted its stake in shares of 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 valued at $296,000 after buying an additional 94 shares during the period. Finally, Angeles Wealth Management LLC grew its position in Apollo Global Management by 2.0% during the second quarter. Angeles Wealth Management LLC now owns 4,964 shares of the financial services provider’s stock worth $704,000 after buying an additional 99 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of APO opened at $143.99 on Thursday. The business has a 50-day simple moving average of $139.60 and a two-hundred day simple moving average of $137.96. The stock has a market cap of $83.58 billion, a PE ratio of 21.05, a PEG ratio of 1.24 and a beta of 1.59. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $174.91. 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 Dividend Announcement

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

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 6,000 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $131.41, for a total transaction 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. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

APO has been the subject of several analyst reports. BMO Capital Markets set a $136.00 price objective on Apollo Global Management and gave the company a “market perform” rating in a report on Tuesday, November 25th. Citigroup cut their price objective on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a report on Monday, December 29th. Piper Sandler restated an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Apollo Global Management from $162.00 to $173.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $165.62.

About Apollo Global Management

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.