Prospera Financial Services Inc Reduces Stake in Apollo Global Management, Inc. (NYSE:APO)

Prospera Financial Services Inc reduced its position in Apollo Global Management, Inc. (NYSE:APO) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,932 shares of the financial services provider’s stock after selling 594 shares during the period. Prospera Financial Services Inc’s holdings in Apollo Global Management were worth $1,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new position in shares of Apollo Global Management in the 2nd quarter worth $35,000. Compagnie Lombard Odier SCmA bought a new stake in Apollo Global Management during the third quarter valued at about $35,000. Massmutual Trust Co. FSB ADV grew its holdings in Apollo Global Management by 293.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 346 shares during the period. Mather Group LLC. grew its holdings in Apollo Global Management by 826.9% during the second quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 645 shares during the period. Finally, Allworth Financial LP grew its holdings in Apollo Global Management by 14.3% during the third quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 91 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APO has been the subject of several recent research reports. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Wednesday. Piper Sandler initiated coverage on Apollo Global Management in a report on Tuesday. They set an “overweight” rating and a $188.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Redburn Atlantic started coverage on Apollo Global Management in a report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price target for the company. Finally, The Goldman Sachs Group boosted their price objective on Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.05.

Apollo Global Management Trading Down 3.2 %

APO opened at $162.87 on Thursday. The stock has a market cap of $92.15 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 1.69 and a beta of 1.59. The stock’s 50 day moving average price is $140.91 and its 200-day moving average price is $123.77. Apollo Global Management, Inc. has a one year low of $87.85 and a one year high of $169.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be paid a $0.463 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.85 annualized dividend and a yield of 1.14%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio is 19.33%.

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.