Commerce Bank Sells 63,656 Shares of Apollo Global Management, Inc. (NYSE:APO)

Commerce Bank decreased its position in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 63.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,448 shares of the financial services provider's stock after selling 63,656 shares during the quarter. Commerce Bank's holdings in Apollo Global Management were worth $6,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of APO. Kestra Private Wealth Services LLC bought a new position in Apollo Global Management during the fourth quarter valued at $3,994,000. Fortress Financial Solutions LLC bought a new position in shares of Apollo Global Management in the 4th quarter valued at about $685,000. Leavell Investment Management Inc. grew its position in Apollo Global Management by 39.8% in the fourth quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider's stock worth $1,016,000 after acquiring an additional 1,750 shares in the last quarter. Amundi increased its stake in Apollo Global Management by 13.2% during the fourth quarter. Amundi now owns 801,260 shares of the financial services provider's stock worth $129,788,000 after acquiring an additional 93,451 shares during the last quarter. Finally, State of Michigan Retirement System purchased a new stake in Apollo Global Management during the fourth quarter valued at approximately $20,034,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the firm's stock in a transaction dated 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 owns 377,164 shares of the company's stock, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon D. Black sold 500,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This trade 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 Trading Up 1.3 %

APO opened at $126.78 on Friday. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The stock has a fifty day moving average price of $138.04 and a 200-day moving average price of $153.39. The firm has a market cap of $72.33 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.17 and a beta of 1.66. 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 Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management's dividend payout ratio is currently 25.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on APO. Keefe, Bruyette & Woods dropped their target price 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. Bank of America increased their target price on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, April 4th. Piper Sandler dropped their price target on shares of Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Citigroup reduced their price objective on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, TD Cowen decreased their price objective on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $156.00.

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.

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