Glenmede Trust Co. NA Lowers Position in Apollo Global Management, Inc. (NYSE:APO)

Glenmede Trust Co. NA decreased its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 23.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 25,179 shares of the financial services provider’s stock after selling 7,838 shares during the period. Glenmede Trust Co. NA’s holdings in Apollo Global Management were worth $3,145,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Townsquare Capital LLC increased its holdings in Apollo Global Management by 12.0% during the third quarter. Townsquare Capital LLC now owns 11,681 shares of the financial services provider’s stock valued at $1,459,000 after buying an additional 1,252 shares during the period. Brooklyn Investment Group bought a new stake in Apollo Global Management during the 3rd quarter valued at $176,000. Partners Group Holding AG increased its holdings in shares of Apollo Global Management by 26.5% in 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. D.A. Davidson & CO. raised its position in shares of Apollo Global Management by 109.2% in the 3rd quarter. D.A. Davidson & CO. now owns 9,630 shares of the financial services provider’s stock worth $1,203,000 after acquiring an additional 5,026 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Apollo Global Management by 2.0% during the 3rd quarter. Bank of Montreal Can now owns 778,544 shares of the financial services provider’s stock worth $97,949,000 after purchasing an additional 15,596 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Up 0.7 %

APO stock opened at $175.03 on Friday. The company has a market cap of $99.03 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.79 and a beta of 1.59. The firm has a 50-day moving average of $148.51 and a two-hundred day moving average of $126.62. Apollo Global Management, Inc. has a 12 month low of $88.58 and a 12 month high of $176.75. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were paid a dividend of $0.463 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.06%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is 19.33%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on APO shares. Piper Sandler started coverage on Apollo Global Management in a research note on Tuesday, November 19th. They issued an “overweight” rating and a $188.00 target price on the stock. Bank of America upgraded shares of Apollo Global Management from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $124.00 to $123.00 in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Barclays increased their price target on Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, TD Cowen boosted their target price on shares of Apollo Global Management from $165.00 to $178.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $155.05.

About Apollo Global Management

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.