Kingsview Wealth Management LLC Sells 408 Shares of Apollo Global Management, Inc. (NYSE:APO)

Kingsview Wealth Management LLC decreased its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,742 shares of the financial services provider’s stock after selling 408 shares during the period. Kingsview Wealth Management LLC’s holdings in Apollo Global Management were worth $256,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Apollo Global Management by 18.9% in the third quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock worth $892,973,000 after purchasing an additional 1,584,201 shares during the period. PointState Capital LP bought a new position in shares of Apollo Global Management in the third quarter worth $98,382,000. Westfield Capital Management Co. LP bought a new position in shares of Apollo Global Management in the third quarter worth $73,840,000. Keystone Investors PTE Ltd. bought a new position in shares of Apollo Global Management in the third quarter worth $54,355,000. Finally, Federated Hermes Inc. increased its position in shares of Apollo Global Management by 45.6% in the third quarter. Federated Hermes Inc. now owns 1,351,609 shares of the financial services provider’s stock worth $121,320,000 after purchasing an additional 423,538 shares during the period. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $113.83 on Thursday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. Apollo Global Management, Inc. has a twelve month low of $62.63 and a twelve month high of $117.15. The stock’s 50 day moving average is $111.73 and its 200-day moving average is $102.80. The firm has a market capitalization of $64.67 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.93 and a beta of 1.61.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.463 dividend. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Thursday, May 16th. Apollo Global Management’s dividend payout ratio is presently 20.49%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on APO. Jefferies Financial Group decreased their price target on Apollo Global Management from $119.00 to $117.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. BMO Capital Markets lifted their target price on Apollo Global Management from $111.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods lifted their price objective on Apollo Global Management from $122.00 to $131.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Barclays cut their price objective on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, Evercore ISI lifted their price objective on Apollo Global Management from $120.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.62.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 30,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total value of $3,338,700.00. Following the completion of the sale, the chief financial officer now directly owns 359,445 shares of the company’s stock, valued at approximately $40,002,634.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Leon D. Black sold 300,000 shares of the stock in a transaction on Saturday, February 24th. The stock was sold at an average price of $111.51, for a total transaction of $33,453,000.00. Following the completion of the transaction, the insider now owns 43,054,773 shares in the company, valued at approximately $4,801,037,737.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 30,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $111.29, for a total value of $3,338,700.00. Following the transaction, the chief financial officer now owns 359,445 shares of the company’s stock, valued at approximately $40,002,634.05. The disclosure for this sale can be found here. In the last three months, insiders sold 780,000 shares of company stock valued at $86,611,200. 8.50% of the stock is owned by insiders.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.