Los Angeles Capital Management LLC Has $4.05 Million Stake in Apollo Global Management, Inc. (NYSE:APO)
Los Angeles Capital Management LLC lowered its stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 34.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 24,492 shares of the financial services provider's stock after selling 12,859 shares during the period. Los Angeles Capital Management LLC's holdings in Apollo Global Management were worth $4,045,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Byrne Asset Management LLC acquired a new position in Apollo Global Management in the 4th quarter valued at approximately $37,000. Retirement Wealth Solutions LLC acquired a new position in shares of Apollo Global Management in the fourth quarter valued at $39,000. UMB Bank n.a. raised its stake in shares of Apollo Global Management by 447.1% in the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 228 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Apollo Global Management during the third quarter worth $80,000. Finally, Truvestments Capital LLC bought a new stake in Apollo Global Management in the 3rd quarter valued at $83,000. Institutional investors own 77.06% of the company's stock.
In other Apollo Global Management 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 value of $791,400.00. Following the sale, the chief financial officer now directly owns 377,164 shares in the company, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Leon D. Black sold 58,200 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the completion of the transaction, the insider now directly owns 35,104,773 shares of the company's stock, valued at $6,086,114,495.01. This trade represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,600 shares of company stock worth $34,977,528. Insiders own 8.50% of the company's stock.
Shares of Apollo Global Management stock opened at $147.29 on Friday. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $83.34 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 1.17 and a beta of 1.63. The firm has a fifty day moving average of $163.83 and a two-hundred day moving average of $148.73.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, February 18th. Apollo Global Management's payout ratio is 25.31%.
A number of equities analysts have recently commented on the stock. UBS Group raised shares of Apollo Global Management to a "hold" rating in a report on Wednesday, November 13th. Morgan Stanley lifted their price objective on Apollo Global Management from $169.00 to $170.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Piper Sandler increased their target price on Apollo Global Management from $188.00 to $202.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Wells Fargo & Company decreased their price target on Apollo Global Management from $191.00 to $187.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Finally, Evercore ISI increased their price objective on Apollo Global Management from $150.00 to $174.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Apollo Global Management currently has an average rating of "Moderate Buy" and an average price target of $165.74.
Read Our Latest Report on APO
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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