Red Door Wealth Management LLC Decreases Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Red Door Wealth Management LLC cut its stake in Apollo Global Management, Inc. (NYSE:APO) by 29.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,084 shares of the financial services provider’s stock after selling 2,533 shares during the quarter. Red Door Wealth Management LLC’s holdings in Apollo Global Management were worth $1,005,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in APO. Compagnie Lombard Odier SCmA purchased a new stake in Apollo Global Management in the 3rd quarter valued at $35,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter valued at about $39,000. UMB Bank n.a. increased its position in Apollo Global Management by 447.1% during the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 228 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in Apollo Global Management in the 3rd quarter valued at about $80,000. Finally, Truvestments Capital LLC acquired a new position in Apollo Global Management in the 3rd quarter valued at about $83,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Trading Up 0.4 %

NYSE:APO opened at $169.49 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The stock has a market cap of $95.90 billion, a P/E ratio of 17.71, a P/E/G ratio of 1.36 and a beta of 1.63. The stock has a 50-day simple moving average of $169.49 and a 200-day simple moving average of $141.05.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a dividend of $0.463 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Monday, November 18th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is currently 19.33%.

Analysts Set New Price Targets

APO has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. BMO Capital Markets lifted their target price on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Evercore ISI increased their price target on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their price objective on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average target price of $164.32.

Insider Activity

In other Apollo Global Management news, insider Leon D. Black sold 58,200 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the completion of the sale, the insider now owns 35,104,773 shares in the company, valued at approximately $6,086,114,495.01. The trade was a 0.17 % 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 transaction, the chief financial officer now owns 320,564 shares in the company, valued at approximately $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,600 shares of company stock worth $34,186,128. Corporate insiders own 8.50% of the company’s stock.

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.