Atria Wealth Solutions Inc. Reduces Stake in Apollo Global Management, Inc. (NYSE:APO)

Atria Wealth Solutions Inc. lowered its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 16.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,276 shares of the financial services provider’s stock after selling 1,386 shares during the period. Atria Wealth Solutions Inc.’s holdings in Apollo Global Management were worth $1,202,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Partners Group Holding AG lifted its holdings in Apollo Global Management by 26.5% during the third quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock valued at $96,896,000 after purchasing an additional 162,678 shares during the last quarter. Kestra Private Wealth Services LLC purchased a new stake in shares of Apollo Global Management during the 4th quarter valued at approximately $3,994,000. Swedbank AB boosted its holdings in Apollo Global Management by 50.9% in the 3rd quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock worth $9,735,000 after buying an additional 26,300 shares during the period. Fortress Financial Solutions LLC purchased a new position in Apollo Global Management in the 4th quarter valued at approximately $685,000. Finally, Leavell Investment Management Inc. raised its holdings in Apollo Global Management by 39.8% during the 4th quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock valued at $1,016,000 after acquiring an additional 1,750 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $150.45 on Monday. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The firm’s 50-day moving average is $165.90 and its 200 day moving average is $148.15. The stock has a market cap of $85.12 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.21 and a beta of 1.63. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Analysts Set New Price Targets

A number of research firms have weighed in on APO. UBS Group raised Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. Barclays raised their price target on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Piper Sandler boosted their price objective on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. BMO Capital Markets increased their target price on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Evercore ISI raised their price target on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $165.74.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the transaction, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Leon D. Black sold 58,200 shares of Apollo Global Management stock in a transaction dated 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 of the company’s stock, valued at $6,086,114,495.01. The trade was a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,600 shares of company stock valued at $34,977,528 over the last 90 days. 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.