Allspring Global Investments Holdings LLC Sells 8,331 Shares of Apollo Global Management Inc. $APO

Allspring Global Investments Holdings LLC cut its position in shares of Apollo Global Management Inc. (NYSE:APO) by 14.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 47,900 shares of the financial services provider’s stock after selling 8,331 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Apollo Global Management were worth $6,784,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Y.D. More Investments Ltd increased its position in shares of Apollo Global Management by 14.4% during the 1st quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 78 shares during the last quarter. Walled Lake Planning & Wealth Management LLC increased its position in shares of Apollo Global Management by 3.3% during the 1st quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider’s stock valued at $345,000 after purchasing an additional 80 shares during the last quarter. GW&K Investment Management LLC increased its position in shares of Apollo Global Management by 84.5% during the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. World Investment Advisors increased its position in shares of Apollo Global Management by 1.3% during the 1st quarter. World Investment Advisors now owns 7,089 shares of the financial services provider’s stock valued at $971,000 after purchasing an additional 93 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its position in shares of Apollo Global Management by 0.9% during the 1st quarter. Arkadios Wealth Advisors now owns 10,896 shares of the financial services provider’s stock valued at $1,492,000 after purchasing an additional 99 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Apollo Global Management from $160.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Barclays reduced their price target on Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. Piper Sandler restated an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Apollo Global Management in a research report on Wednesday, October 8th. Finally, Citigroup reduced their price target on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $161.14.

Apollo Global Management Price Performance

Shares of APO stock opened at $121.55 on Monday. The firm has a market cap of $69.53 billion, a P/E ratio of 22.72, a P/E/G ratio of 1.39 and a beta of 1.68. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The business’s 50 day moving average price is $134.27 and its 200-day moving average price is $135.79. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The firm had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $1.64 EPS. On average, equities research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.51 dividend. The ex-dividend date was Monday, August 18th. This represents a $2.04 annualized dividend and a yield of 1.7%. Apollo Global Management’s dividend payout ratio (DPR) is 38.13%.

Insider Activity

In other news, insider Whitney Chatterjee sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the transaction, the insider owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Martin Kelly sold 15,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the transaction, the chief financial officer owned 332,399 shares of the company’s stock, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 935,000 shares of company stock worth $125,543,790 in the last quarter. 8.50% 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.