Envestnet Portfolio Solutions Inc. Raises Position in Apollo Global Management, Inc. (NYSE:APO)

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 8.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 15,687 shares of the financial services provider’s stock after purchasing an additional 1,274 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Apollo Global Management were worth $2,591,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in APO. Diversified Enterprises LLC acquired a new stake in Apollo Global Management in the fourth quarter worth about $441,000. Natixis Advisors LLC raised its position in shares of Apollo Global Management by 32.3% in the 4th quarter. Natixis Advisors LLC now owns 207,096 shares of the financial services provider’s stock valued at $34,204,000 after purchasing an additional 50,511 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Apollo Global Management in the 4th quarter worth approximately $471,000. Left Brain Wealth Management LLC purchased a new stake in Apollo Global Management during the 4th quarter worth approximately $4,251,000. Finally, Wellington Shields Capital Management LLC grew its position in Apollo Global Management by 2.1% during the 4th quarter. Wellington Shields Capital Management LLC now owns 53,323 shares of the financial services provider’s stock worth $8,807,000 after purchasing an additional 1,099 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now directly owns 377,164 shares in the company, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

NYSE APO opened at $143.38 on Thursday. The stock has a market capitalization of $81.80 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.17 and a beta of 1.66. The stock has a 50-day moving average of $154.89 and a 200 day moving average of $151.59. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on APO. BMO Capital Markets lifted their price objective on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Barclays lifted their price target on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Piper Sandler boosted their price target on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods dropped their target price on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $165.74.

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.