Apollo Global Management Inc. $APO Shares Purchased by Moors & Cabot Inc.

Moors & Cabot Inc. raised its holdings in Apollo Global Management Inc. (NYSE:APO) by 170.5% in the third quarter, Holdings Channel.com reports. The fund owned 31,652 shares of the financial services provider’s stock after buying an additional 19,952 shares during the quarter. Moors & Cabot Inc.’s holdings in Apollo Global Management were worth $3,674,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in APO. Greenleaf Trust lifted its stake in shares of Apollo Global Management by 2.6% in the third quarter. Greenleaf Trust now owns 4,144 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 105 shares during the period. Chickasaw Capital Management LLC grew its position in Apollo Global Management by 4.7% during the third quarter. Chickasaw Capital Management LLC now owns 2,663 shares of the financial services provider’s stock worth $309,000 after buying an additional 120 shares during the period. Bfsg LLC grew its position 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 period. 180 Wealth Advisors LLC grew its position in Apollo Global Management by 2.4% during the second quarter. 180 Wealth Advisors LLC now owns 5,571 shares of the financial services provider’s stock worth $659,000 after buying an additional 131 shares during the period. Finally, Integrated Wealth Concepts LLC increased its holdings in Apollo Global Management by 2.8% in the second quarter. Integrated Wealth Concepts LLC now owns 5,101 shares of the financial services provider’s stock valued at $604,000 after buying an additional 137 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Trading Up 1.7%

Shares of NYSE:APO traded up $2.03 during trading on Friday, reaching $123.38. The stock had a trading volume of 3,063,833 shares, compared to its average volume of 3,852,949. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.41. The stock has a market cap of $72.84 billion, a P/E ratio of -67.42, a PEG ratio of 1.15 and a beta of 1.51. The business has a fifty day moving average price of $119.63 and a 200-day moving average price of $122.62. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29.

Apollo Global Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Wednesday, November 18th will be given a dividend of $0.5625 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.25 annualized dividend and a yield of 1.8%. Apollo Global Management’s dividend payout ratio is -122.95%.

Insider Buying and Selling

In other news, insider Whitney Chatterjee sold 7,339 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $117.83, for a total transaction of $864,754.37. Following the completion of the sale, the insider directly owned 129,151 shares in the company, valued at $15,217,862.33. This represents a 5.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on APO shares. Wells Fargo & Company began coverage on Apollo Global Management in a research note on Friday, October 2nd. They set an “equal weight” rating and a $127.00 price target on the stock. Morgan Stanley lowered their price target on Apollo Global Management from $150.00 to $149.00 and set an “overweight” rating on the stock in a report on Wednesday, November 4th. Piper Sandler downgraded Apollo Global Management from an “overweight” rating to a “cautious” rating in a research note on Friday. Keefe, Bruyette & Woods reduced their price objective on Apollo Global Management from $135.00 to $130.00 and set a “market perform” rating for the company in a report on Wednesday, November 4th. Finally, Wall Street Zen downgraded Apollo Global Management from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 7th. Twelve research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $145.21.

About Apollo Global Management

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.