Kestra Investment Management LLC Sells 2,900 Shares of Apollo Global Management, Inc. (NYSE:APO)

Kestra Investment Management LLC reduced its stake in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 30.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,643 shares of the financial services provider's stock after selling 2,900 shares during the quarter. Kestra Investment Management LLC's holdings in Apollo Global Management were worth $1,097,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Byrne Asset Management LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter worth $37,000. Retirement Wealth Solutions LLC acquired a new position in Apollo Global Management during the 4th quarter worth $39,000. UMB Bank n.a. boosted its holdings 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 valued at $46,000 after acquiring an additional 228 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Apollo Global Management in the third quarter valued at about $80,000. Finally, Truvestments Capital LLC bought a new position in shares of Apollo Global Management in the third quarter worth about $83,000. Institutional investors own 77.06% of the company's stock.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the sale, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Leon D. Black sold 133,400 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the transaction, the insider now owns 35,471,373 shares in the company, valued at $6,177,694,321.68. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 201,600 shares of company stock valued at $34,977,528 in the last three months. 8.50% of the stock is owned by corporate insiders.

Apollo Global Management Price Performance

APO stock traded down $3.39 during trading on Thursday, hitting $156.88. 3,149,580 shares of the stock traded hands, compared to its average volume of 3,238,807. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market cap of $88.77 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.25 and a beta of 1.63. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The company has a 50 day simple moving average of $166.81 and a 200 day simple moving average of $147.10.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management's payout ratio is currently 25.31%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on APO shares. TD Cowen increased their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a "buy" rating in a research note on Monday, December 9th. BMO Capital Markets increased their price objective 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. Barclays boosted their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Evercore ISI increased their price target on shares of Apollo Global Management from $150.00 to $174.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Apollo Global Management from $141.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. One investment 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $165.74.

Apollo Global Management 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.