SBI Securities Co. Ltd. Lowers Stock Position in Apollo Global Management Inc. $APO

SBI Securities Co. Ltd. cut its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 11.6% during the second quarter, Holdings Channel.com reports. The firm owned 3,382 shares of the financial services provider’s stock after selling 443 shares during the period. SBI Securities Co. Ltd.’s holdings in Apollo Global Management were worth $480,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of APO. Wealth Quarterback LLC bought a new position in Apollo Global Management in the second quarter worth approximately $544,000. Turn8 Private Wealth Inc. increased its holdings in shares of Apollo Global Management by 3.7% in the 2nd quarter. Turn8 Private Wealth Inc. now owns 23,867 shares of the financial services provider’s stock valued at $3,437,000 after acquiring an additional 861 shares during the period. Factory Mutual Insurance Co. raised its position in shares of Apollo Global Management by 26.0% in the 2nd quarter. Factory Mutual Insurance Co. now owns 199,400 shares of the financial services provider’s stock worth $28,289,000 after acquiring an additional 41,200 shares in the last quarter. Samalin Investment Counsel LLC raised its position in shares of Apollo Global Management by 72.6% in the 2nd quarter. Samalin Investment Counsel LLC now owns 11,947 shares of the financial services provider’s stock worth $1,695,000 after acquiring an additional 5,025 shares in the last quarter. Finally, Vise Technologies Inc. purchased a new stake in shares of Apollo Global Management during the 2nd quarter worth $702,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $130.56 on Friday. The firm has a market capitalization of $74.68 billion, a P/E ratio of 24.40, a PEG ratio of 1.42 and a beta of 1.63. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average price of $130.66 and a 200 day moving average price of $136.25.

Apollo Global Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 17th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. Apollo Global Management’s payout ratio is 29.82%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on APO. Keefe, Bruyette & Woods lifted their target price on Apollo Global Management from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Morgan Stanley cut their price objective on shares of Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Citigroup decreased their target price on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Piper Sandler restated an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. Finally, Wall Street Zen raised Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and an average price target of $162.00.

Insider Buying and Selling at Apollo Global Management

In related news, insider Leon D. Black sold 915,000 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total value of $122,637,450.00. Following the transaction, the insider directly owned 4,526,000 shares of the company’s stock, valued at $606,619,780. This represents a 16.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.20% of the stock is owned by company insiders.

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.