Verdence Capital Advisors LLC Acquires 5,334 Shares of Apollo Global Management Inc. $APO

Verdence Capital Advisors LLC boosted its holdings in Apollo Global Management Inc. (NYSE:APO) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,051 shares of the financial services provider’s stock after buying an additional 5,334 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Apollo Global Management were worth $6,830,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC lifted its position in Apollo Global Management by 39.2% during the second quarter. Hsbc Holdings PLC now owns 842,391 shares of the financial services provider’s stock valued at $119,482,000 after purchasing an additional 237,180 shares during the period. Diversified Trust Co grew its position in Apollo Global Management by 2,649.9% in the 3rd quarter. Diversified Trust Co now owns 42,238 shares of the financial services provider’s stock worth $5,629,000 after purchasing an additional 40,702 shares during the period. Stock Yards Bank & Trust Co. purchased a new stake in Apollo Global Management during the 2nd quarter valued at $709,000. Callodine Capital Management LP lifted its holdings in shares of Apollo Global Management by 236.2% during the 2nd quarter. Callodine Capital Management LP now owns 270,000 shares of the financial services provider’s stock valued at $38,305,000 after buying an additional 189,693 shares during the period. Finally, Asio Capital LLC bought a new position in shares of Apollo Global Management during the 3rd quarter valued at $4,296,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wall Street Zen upgraded Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. UBS Group reduced their price target on shares of Apollo Global Management from $186.00 to $182.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Barclays dropped their price objective on shares of Apollo Global Management from $172.00 to $168.00 and set an “overweight” rating on the stock in a report on Friday, January 9th. Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research report on Tuesday, November 25th. Finally, Piper Sandler reissued an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $165.62.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 6,000 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $131.41, for a total transaction of $788,460.00. Following the completion of the sale, the chief financial officer owned 325,604 shares in the company, valued at approximately $42,787,621.64. This trade represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

Apollo Global Management Stock Performance

APO opened at $144.01 on Tuesday. The company has a 50 day simple moving average of $140.39 and a two-hundred day simple moving average of $137.95. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $83.59 billion, a P/E ratio of 21.05, a PEG ratio of 1.29 and a beta of 1.59. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $174.91.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Monday, November 17th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, November 17th. Apollo Global Management’s dividend payout ratio is presently 29.82%.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.