Carmel Capital Partners LLC Decreases Holdings in Apollo Global Management, Inc. (NYSE:APO)

Carmel Capital Partners LLC decreased its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 19.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,883 shares of the financial services provider’s stock after selling 3,606 shares during the quarter. Apollo Global Management accounts for about 1.0% of Carmel Capital Partners LLC’s holdings, making the stock its 16th biggest position. Carmel Capital Partners LLC’s holdings in Apollo Global Management were worth $2,458,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of APO. Van ECK Associates Corp raised its position in shares of Apollo Global Management by 10.1% during the 3rd quarter. Van ECK Associates Corp now owns 79,943 shares of the financial services provider’s stock worth $9,986,000 after purchasing an additional 7,328 shares during the last quarter. National Pension Service raised its position in shares of Apollo Global Management by 10.3% during the 3rd quarter. National Pension Service now owns 566,529 shares of the financial services provider’s stock worth $70,765,000 after purchasing an additional 52,888 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of Apollo Global Management by 1.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 146,941 shares of the financial services provider’s stock worth $18,354,000 after purchasing an additional 2,773 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Apollo Global Management by 6.7% during the 3rd quarter. QRG Capital Management Inc. now owns 25,147 shares of the financial services provider’s stock worth $3,141,000 after purchasing an additional 1,585 shares during the last quarter. Finally, Pittenger & Anderson Inc. raised its holdings in Apollo Global Management by 111.1% in the 3rd quarter. Pittenger & Anderson Inc. now owns 1,900 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

APO has been the subject of several analyst reports. Piper Sandler boosted their price target on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. BMO Capital Markets upped their price objective on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Barclays upped their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Evercore ISI upped their target price on shares of Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $165.74.

Apollo Global Management Stock Up 2.0 %

Shares of APO stock opened at $140.62 on Thursday. The firm has a fifty day moving average of $161.43 and a 200-day moving average of $150.03. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The company has a market capitalization of $80.22 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 1.17 and a beta of 1.63.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is 25.31%.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 377,164 shares in the company, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is owned by 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.