AXQ Capital LP Reduces Stock Position in Apollo Global Management, Inc. (NYSE:APO)

AXQ Capital LP decreased its holdings in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 22.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,319 shares of the financial services provider's stock after selling 2,388 shares during the period. Apollo Global Management makes up about 0.6% of AXQ Capital LP's holdings, making the stock its 25th biggest holding. AXQ Capital LP's holdings in Apollo Global Management were worth $1,374,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Umpqua Bank boosted its position in Apollo Global Management by 42.8% during the fourth quarter. Umpqua Bank now owns 2,427 shares of the financial services provider's stock valued at $387,000 after buying an additional 728 shares during the period. Mizuho Securities USA LLC purchased a new stake in Apollo Global Management during the 4th quarter valued at about $6,997,000. Virtu Financial LLC purchased a new stake in Apollo Global Management during the 4th quarter valued at about $1,491,000. Quantbot Technologies LP bought a new position in Apollo Global Management during the 4th quarter worth approximately $1,966,000. Finally, Douglass Winthrop Advisors LLC purchased a new position in Apollo Global Management in the 4th quarter worth approximately $206,000. Institutional investors own 77.06% of the company's stock.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the company'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 transaction, the chief financial officer now directly owns 377,164 shares of the company's stock, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of Apollo Global Management 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 completion of the sale, the insider now directly owns 34,604,773 shares of the company's stock, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by company insiders.

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Wall Street Analyst Weigh In

Several research analysts have recently issued reports on APO shares. Wells Fargo & Company cut their target price on shares of Apollo Global Management from $187.00 to $177.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. Piper Sandler raised their price target 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. StockNews.com lowered shares of Apollo Global Management from a "hold" rating to a "sell" rating in a report on Tuesday, December 10th. Morgan Stanley boosted their price target on Apollo Global Management from $169.00 to $170.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Finally, Keefe, Bruyette & Woods dropped their price objective on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $165.21.

Apollo Global Management Stock Down 2.3 %

Shares of APO traded down $3.38 during mid-day trading on Wednesday, reaching $144.52. The company had a trading volume of 2,590,052 shares, compared to its average volume of 3,385,118. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $82.45 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The firm has a 50-day moving average price of $153.54 and a 200 day moving average price of $152.82. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.28%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management's dividend payout ratio (DPR) is 25.31%.

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.