Fortress Financial Solutions LLC Invests $685,000 in Apollo Global Management, Inc. (NYSE:APO)

Fortress Financial Solutions LLC bought a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) in the 4th quarter, Holdings Channel.com reports. The firm bought 4,145 shares of the financial services provider’s stock, valued at approximately $685,000. Apollo Global Management makes up approximately 1.0% of Fortress Financial Solutions LLC’s holdings, making the stock its 23rd largest position.

A number of other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after buying an additional 383,557 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Apollo Global Management by 12,086.7% in the 3rd quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock worth $462,460,000 after acquiring an additional 367,195 shares during the last quarter. Holocene Advisors LP grew its holdings in shares of Apollo Global Management by 530.9% in the 3rd quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock worth $50,242,000 after acquiring an additional 338,472 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Apollo Global Management by 4.7% during the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after purchasing an additional 254,268 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Apollo Global Management by 43.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 767,014 shares of the financial services provider’s stock valued at $95,808,000 after purchasing an additional 233,670 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Stock Performance

APO stock opened at $158.11 on Wednesday. The firm has a 50 day moving average of $168.63 and a two-hundred day moving average of $145.50. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a market capitalization of $89.46 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 1.28 and a beta of 1.63. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the sale, the chief financial officer now directly owns 320,564 shares in the company, valued at approximately $55,332,552.04. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 133,400 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were 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. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 196,600 shares of company stock valued at $34,186,128 over the last three months. 8.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on APO shares. TD Cowen lifted their price target on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays lifted their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. The Goldman Sachs Group upped their price target on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. UBS Group upgraded shares of Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. Finally, Piper Sandler boosted their target price on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average target price of $165.74.

Apollo Global Management Company 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.