Apollo Global Management, Inc. (NYSE:APO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 76.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,411 shares of the financial services provider's stock after selling 193,874 shares during the period. Principal Financial Group Inc.'s holdings in Apollo Global Management were worth $7,421,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. PGGM Investments purchased a new position in shares of Apollo Global Management in the 1st quarter valued at $840,000. Mackenzie Financial Corp grew its stake in Apollo Global Management by 4.5% during the 2nd quarter. Mackenzie Financial Corp now owns 178,868 shares of the financial services provider's stock worth $21,119,000 after buying an additional 7,679 shares during the last quarter. Forsta AP Fonden grew its stake in Apollo Global Management by 8.4% during the 3rd quarter. Forsta AP Fonden now owns 143,600 shares of the financial services provider's stock worth $17,937,000 after buying an additional 11,100 shares during the last quarter. Ameliora Wealth Management Ltd. grew its stake in Apollo Global Management by 445.8% during the 2nd quarter. Ameliora Wealth Management Ltd. now owns 21,980 shares of the financial services provider's stock worth $2,595,000 after buying an additional 17,953 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Apollo Global Management by 116.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 229,359 shares of the financial services provider's stock worth $25,791,000 after buying an additional 123,559 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Price Performance

NYSE:APO traded down $6.14 during trading hours on Wednesday, hitting $162.11. 3,702,255 shares of the stock were exchanged, compared to its average volume of 2,669,627. Apollo Global Management, Inc. has a 52-week low of $87.85 and a 52-week high of $169.15. The firm's fifty day moving average price is $139.82 and its 200 day moving average price is $123.50. 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 company has a market cap of $91.73 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.69 and a beta of 1.59.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be given a $0.463 dividend. The ex-dividend date is Monday, November 18th. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.14%. Apollo Global Management's dividend payout ratio is 19.33%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on APO. Piper Sandler began coverage on Apollo Global Management in a research note on Tuesday. They set an "overweight" rating and a $188.00 target price on the stock. Morgan Stanley boosted their target price on Apollo Global Management from $111.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. StockNews.com downgraded Apollo Global Management from a "hold" rating to a "sell" rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on Apollo Global Management from $161.00 to $178.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Wolfe Research initiated coverage on Apollo Global Management in a research report on Wednesday, September 25th. They set an "outperform" rating and a $139.00 price target for the company. 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.05.

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.