Naples Global Advisors LLC Grows Stake in Apollo Global Management, Inc. (NYSE:APO)

Posted by Defense World Staff on Mar 30th, 2023

Naples Global Advisors LLC raised its stake in Apollo Global Management, Inc. (NYSE:APO – Get Rating) by 16.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,000 shares of the financial services provider’s stock after acquiring an additional 1,000 shares during the quarter. Naples Global Advisors LLC’s holdings in Apollo Global Management were worth $447,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its holdings in Apollo Global Management by 7,183.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 437 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 431 shares during the period. MADDEN SECURITIES Corp purchased a new stake in Apollo Global Management during the 4th quarter valued at $30,000. Zions Bancorporation N.A. purchased a new stake in Apollo Global Management during the 1st quarter valued at $30,000. Pinnacle Holdings LLC purchased a new stake in shares of Apollo Global Management in the 3rd quarter worth about $31,000. Finally, Cambridge Trust Co. purchased a new stake in shares of Apollo Global Management in the 2nd quarter worth about $34,000. 68.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on APO. Morgan Stanley reduced their price objective on shares of Apollo Global Management from $69.00 to $68.00 and set an “equal weight” rating for the company in a research note on Monday, February 13th. TheStreet upgraded shares of Apollo Global Management from a “d+” rating to a “c” rating in a research report on Thursday, February 9th. Oppenheimer upped their price target on shares of Apollo Global Management to $74.00 in a research report on Wednesday, December 14th. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $84.00 to $88.00 in a research report on Friday, February 10th. Finally, Barclays dropped their target price on shares of Apollo Global Management from $80.00 to $74.00 and set an “overweight” rating for the company in a research report on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.22.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 30,000 shares of Apollo Global Management stock in a transaction on Friday, February 10th. The shares were sold at an average price of $70.44, for a total transaction of $2,113,200.00. Following the sale, the chief financial officer now owns 414,241 shares of the company’s stock, valued at approximately $29,179,136.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider John J. Suydam sold 33,334 shares of the business’s stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $72.00, for a total value of $2,400,048.00. Following the sale, the insider now directly owns 277,076 shares in the company, valued at approximately $19,949,472. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 30,000 shares of the business’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $70.44, for a total transaction of $2,113,200.00. Following the completion of the sale, the chief financial officer now owns 414,241 shares in the company, valued at $29,179,136.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,667 shares of company stock valued at $7,898,208. 15.40% of the stock is owned by company insiders.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $60.66 on Thursday. The company’s fifty day moving average price is $67.54 and its 200 day moving average price is $62.20. Apollo Global Management, Inc. has a 1 year low of $45.62 and a 1 year high of $74.63. The stock has a market capitalization of $34.62 billion, a P/E ratio of -10.87, a P/E/G ratio of 0.50 and a beta of 1.72. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.86 and a current ratio of 0.86.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Tuesday, February 21st were paid a $0.40 dividend. The ex-dividend date was Friday, February 17th. This represents a $1.60 dividend on an annualized basis and a yield of 2.64%. Apollo Global Management’s dividend payout ratio is currently -28.67%.

Apollo Global Management Profile

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Apollo Global Management, Inc provides asset management services. It offers its clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid, and equity. The company was founded by Marc Rowan in 1990 and is headquartered in New York, NY.