Leon D. Black Sells 500,000 Shares of Apollo Global Management, Inc. (NYSE:APO) Stock

Apollo Global Management, Inc. (NYSE:APO) insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, the insider now owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Apollo Global Management Price Performance

APO stock opened at $143.53 on Friday. The company has a market capitalization of $81.88 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The business has a 50-day simple moving average of $154.31 and a two-hundred day simple moving average of $152.02. 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 Cuts Dividend

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

Analysts Set New Price Targets

APO has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Piper Sandler lifted their price objective on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research report 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. TD Cowen boosted their price target on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Morgan Stanley raised their price objective on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.21.

Institutional Investors Weigh In On Apollo Global Management

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ellevest Inc. raised its holdings in shares of Apollo Global Management by 1.5% in the fourth quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider’s stock valued at $735,000 after purchasing an additional 67 shares during the last quarter. Menard Financial Group LLC increased its stake in Apollo Global Management by 1.2% in the 3rd quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider’s stock valued at $720,000 after buying an additional 71 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in Apollo Global Management by 2.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider’s stock valued at $447,000 after buying an additional 71 shares during the last quarter. Vivaldi Capital Management LP lifted its position in shares of Apollo Global Management by 2.1% during the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider’s stock worth $566,000 after buying an additional 71 shares in the last quarter. Finally, Tower Wealth Partners Inc. boosted its stake in shares of Apollo Global Management by 4.4% in the 4th quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock worth $288,000 after buying an additional 74 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

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.