Catalyst Capital Advisors LLC Trims Stake in Apollo Global Management, Inc. (NYSE:APO)

Catalyst Capital Advisors LLC decreased its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 12.3% during the fourth quarter, Holdings Channel reports. The fund owned 40,233 shares of the financial services provider’s stock after selling 5,629 shares during the period. Catalyst Capital Advisors LLC’s holdings in Apollo Global Management were worth $6,645,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Byrne Asset Management LLC bought a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $37,000. Retirement Wealth Solutions LLC bought a new position in shares of Apollo Global Management during the 4th quarter valued at $39,000. UMB Bank n.a. lifted its holdings in shares of Apollo Global Management by 447.1% during the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after buying an additional 228 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Apollo Global Management during the 3rd quarter valued at $80,000. Finally, Truvestments Capital LLC bought a new position in shares of Apollo Global Management during the 3rd quarter valued at $83,000. 77.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on APO shares. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods reduced their price objective on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Piper Sandler upped their price objective on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Citigroup upped their price objective on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.74.

Apollo Global Management Trading Up 3.2 %

Shares of APO stock opened at $162.95 on Monday. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $92.20 billion, a PE ratio of 22.29, a PEG ratio of 1.28 and a beta of 1.63. The stock has a fifty day simple moving average of $167.64 and a two-hundred day simple moving average of $146.27.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.14%. Apollo Global Management’s payout ratio is 25.31%.

Insider Activity

In other news, insider Leon D. Black sold 133,400 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the transaction, the insider now owns 35,471,373 shares in the company, valued at $6,177,694,321.68. This trade represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 201,600 shares of company stock worth $34,977,528 over the last 90 days. Corporate insiders own 8.50% of the company’s stock.

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.