Ensign Peak Advisors Inc Sells 443,449 Shares of Apollo Global Management Inc. $APO

Ensign Peak Advisors Inc lowered its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 25.2% during the second quarter, HoldingsChannel reports. The firm owned 1,314,403 shares of the financial services provider’s stock after selling 443,449 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Apollo Global Management were worth $186,474,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Renaissance Group LLC boosted its position in shares of Apollo Global Management by 25.3% in the second quarter. Renaissance Group LLC now owns 213,141 shares of the financial services provider’s stock valued at $30,238,000 after acquiring an additional 43,000 shares during the period. Wealthspire Advisors LLC raised its position in Apollo Global Management by 6.9% during the second quarter. Wealthspire Advisors LLC now owns 23,379 shares of the financial services provider’s stock valued at $3,317,000 after purchasing an additional 1,500 shares in the last quarter. Purus Wealth Management LLC raised its holdings in shares of Apollo Global Management by 1.3% during the 2nd quarter. Purus Wealth Management LLC now owns 26,762 shares of the financial services provider’s stock worth $3,797,000 after buying an additional 333 shares in the last quarter. Empowered Funds LLC raised its stake in Apollo Global Management by 9.5% during the second quarter. Empowered Funds LLC now owns 30,701 shares of the financial services provider’s stock worth $4,356,000 after acquiring an additional 2,672 shares in the last quarter. Finally, Frank Rimerman Advisors LLC lifted its stake in Apollo Global Management by 52.4% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 2,747 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 945 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $127.30 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $130.13 and its two-hundred day simple moving average is $136.00. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49. The stock has a market cap of $72.82 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 1.42 and a beta of 1.63.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be paid a $0.51 dividend. The ex-dividend date is Monday, November 17th. This represents a $2.04 annualized dividend and a yield of 1.6%. Apollo Global Management’s dividend payout ratio (DPR) is 29.82%.

Insider Activity at Apollo Global Management

In other news, insider Leon D. Black sold 915,000 shares of the business’s stock in a transaction that occurred 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 owned 4,526,000 shares in the company, valued at $606,619,780. The trade was a 16.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on APO. Piper Sandler reiterated an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. BMO Capital Markets initiated coverage on shares of Apollo Global Management in a research report on Friday, October 3rd. They set a “market perform” rating and a $132.00 price target on the stock. Barclays lifted their price objective on shares of Apollo Global Management from $147.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Citigroup dropped their price target on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Finally, Morgan Stanley lowered 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 report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.67.

Apollo Global Management Profile

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.