Gabelli Funds LLC Lowers Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Gabelli Funds LLC cut its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,387 shares of the financial services provider’s stock after selling 2,613 shares during the period. Gabelli Funds LLC’s holdings in Apollo Global Management were worth $5,679,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bridgewater Associates LP raised its position in Apollo Global Management by 10.8% in the fourth quarter. Bridgewater Associates LP now owns 13,029 shares of the financial services provider’s stock valued at $2,152,000 after purchasing an additional 1,270 shares during the period. Guggenheim Capital LLC grew its stake in shares of Apollo Global Management by 699.7% in the fourth quarter. Guggenheim Capital LLC now owns 29,877 shares of the financial services provider’s stock valued at $4,934,000 after buying an additional 26,141 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at $1,186,000. CreativeOne Wealth LLC acquired a new position in Apollo Global Management during the 4th quarter worth about $1,381,000. Finally, SageView Advisory Group LLC boosted its holdings in Apollo Global Management by 4.5% during the 4th quarter. SageView Advisory Group LLC now owns 2,747 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 119 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. TD Cowen reduced their price target on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley cut their price target on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Monday. Bank of America upped their price objective on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 4th. Keefe, Bruyette & Woods cut their target price on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, Piper Sandler lowered their price target on Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Insider Activity

In other news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the completion of the sale, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the transaction, the insider now directly owns 34,604,773 shares in the company, valued at $4,913,877,766. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $126.78 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The business has a 50 day simple moving average of $138.66 and a 200-day simple moving average of $153.29. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The stock has a market capitalization of $72.33 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

Apollo Global Management Company 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.