Ethic Inc. Decreases Stock Holdings in Apollo Global Management Inc. $APO

Ethic Inc. decreased its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 11.5% during the third quarter, Holdings Channel reports. The firm owned 49,527 shares of the financial services provider’s stock after selling 6,435 shares during the quarter. Ethic Inc.’s holdings in Apollo Global Management were worth $6,601,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Delos Wealth Advisors LLC purchased a new position in shares of Apollo Global Management in the 2nd quarter worth $25,000. Activest Wealth Management lifted its holdings in Apollo Global Management by 875.0% in the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 175 shares during the period. Sound Income Strategies LLC purchased a new position in Apollo Global Management in the third quarter worth about $28,000. Rosenberg Matthew Hamilton grew its stake in shares of Apollo Global Management by 6,900.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 207 shares during the period. Finally, Nemes Rush Group LLC purchased a new stake in shares of Apollo Global Management during the 2nd quarter valued at about $30,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Trading Down 0.9%

Shares of APO stock opened at $147.15 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a fifty day simple moving average of $134.81 and a two-hundred day simple moving average of $137.11. The firm has a market capitalization of $85.41 billion, a PE ratio of 21.51, a PEG ratio of 1.51 and a beta of 1.61. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $174.91.

Apollo Global Management Announces Dividend

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

Insider Buying and Selling

In related news, CFO Martin Kelly sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $131.41, for a total value 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. The trade was a 1.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on APO shares. BMO Capital Markets set a $136.00 price objective on shares of Apollo Global Management and gave the stock a “market perform” rating in a report on Tuesday, November 25th. Barclays lifted their price target on shares of Apollo Global Management from $159.00 to $172.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Cowen restated a “buy” rating on shares of Apollo Global Management in a research note on Tuesday, November 25th. Keefe, Bruyette & Woods lifted their target price on Apollo Global Management from $162.00 to $173.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Finally, Evercore ISI upped their price target on Apollo Global Management from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock 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.