Apollo Global Management Inc. $APO Stock: Kestra Investment Management LLC Grows Stake

Kestra Investment Management LLC grew its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 655.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,702 shares of the financial services provider's stock after acquiring an additional 30,978 shares during the quarter. Kestra Investment Management LLC's holdings in Apollo Global Management were worth $4,144,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Continuum Advisory LLC acquired a new stake in Apollo Global Management in the 2nd quarter valued at $30,000. Keating Financial Advisory Services Inc. bought a new stake in Apollo Global Management during the 2nd quarter valued at $31,000. Avion Wealth raised its holdings in Apollo Global Management by 159.2% during the third quarter. Avion Wealth now owns 267 shares of the financial services provider's stock worth $31,000 after buying an additional 164 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Apollo Global Management during the second quarter worth $38,000. Finally, Bfsg LLC raised its holdings in Apollo Global Management by 58.4% during the third quarter. Bfsg LLC now owns 331 shares of the financial services provider's stock worth $38,000 after buying an additional 122 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Whitney Chatterjee sold 7,339 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $117.83, for a total value of $864,754.37. Following the completion of the sale, the insider owned 129,151 shares in the company, valued at $15,217,862.33. This represents a 5.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Martin Kelly sold 3,000 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the sale, the chief financial officer owned 396,533 shares of the company's stock, valued at approximately $55,847,707.72. This represents a 0.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 8.30% of the stock is owned by insiders.

Apollo Global Management Trading Up 4.7%

Shares of Apollo Global Management stock opened at $122.24 on Tuesday. The company has a market capitalization of $72.19 billion, a P/E ratio of -66.80, a price-to-earnings-growth ratio of 1.13 and a beta of 1.51. The stock has a fifty day simple moving average of $120.53 and a 200 day simple moving average of $122.86. Apollo Global Management Inc. has a 12-month low of $99.56 and a 12-month high of $153.29. The company has a current ratio of 1.41, a quick ratio of 1.70 and a debt-to-equity ratio of 0.42.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, November 18th. Apollo Global Management's payout ratio is currently -122.95%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of Apollo Global Management from a "hold" rating to a "strong sell" rating in a research note on Saturday. Evercore boosted their target price on shares of Apollo Global Management from $145.00 to $146.00 in a research report on Thursday, October 8th. Wells Fargo & Company assumed coverage on shares of Apollo Global Management in a report on Friday, October 2nd. They issued an "equal weight" rating and a $127.00 target price on the stock. Jefferies Financial Group dropped their price target on shares of Apollo Global Management from $138.00 to $127.00 and set a "hold" rating on the stock in a research report on Tuesday, October 6th. Finally, HSBC began coverage on Apollo Global Management in a research note on Monday, July 20th. They set a "buy" rating and a $145.00 price target for the company. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $145.21.

Apollo Global Management Company Profile

Apollo Global Management is a global alternative asset manager that provides investment management and retirement services. Its investment strategies span private equity, credit and real assets, including infrastructure, and it serves institutional and individual investors.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan. It has since expanded its investment businesses and retirement-services operations, including through Athene, its retirement services platform.

Apollo operates across global markets and is led by co-founder Marc Rowan, who serves as chief executive officer.

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