Beacon Investment Advisory Services Inc. Sells 875 Shares of Apollo Global Management, Inc. (NYSE:APO)

Beacon Investment Advisory Services Inc. reduced its stake in Apollo Global Management, Inc. (NYSE:APO) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,880 shares of the financial services provider’s stock after selling 875 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Apollo Global Management were worth $3,449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Partners Group Holding AG lifted its position in shares of Apollo Global Management by 26.5% during the 3rd quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock valued at $96,896,000 after acquiring an additional 162,678 shares during the period. Swedbank AB raised its stake in Apollo Global Management by 50.9% in the third quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock valued at $9,735,000 after purchasing an additional 26,300 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Apollo Global Management by 34.1% during the third quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock worth $2,428,000 after purchasing an additional 4,941 shares during the period. Geode Capital Management LLC grew its stake in Apollo Global Management by 4.7% during the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after buying an additional 254,268 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Apollo Global Management by 0.4% in the 3rd quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock valued at $147,670,000 after buying an additional 4,600 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on APO shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. TD Cowen raised their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. Wolfe Research assumed coverage on Apollo Global Management in a report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 price target for the company. The Goldman Sachs Group raised their price objective on Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler boosted their target price on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.32.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $168.96 on Thursday. The stock’s 50 day moving average is $169.39 and its 200 day moving average is $140.85. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The firm has a market cap of $95.60 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.36 and a beta of 1.63. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a $0.463 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.10%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is 19.33%.

Insider Activity

In other Apollo Global Management news, insider Leon D. Black sold 133,400 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $174.16, for a total value of $23,232,944.00. Following the transaction, the insider now directly owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the sale, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 196,600 shares of company stock valued at $34,186,128. 8.50% of the stock is currently owned by insiders.

Apollo Global Management 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.