Apollo Global Management, Inc. (NYSE:APO) Shares Purchased by LPL Financial LLC

LPL Financial LLC boosted its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 29.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 276,834 shares of the financial services provider’s stock after buying an additional 63,742 shares during the quarter. LPL Financial LLC’s holdings in Apollo Global Management were worth $45,722,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its position in shares of Apollo Global Management by 60.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock worth $479,057,000 after purchasing an additional 1,094,464 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Apollo Global Management by 42.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock worth $436,148,000 after acquiring an additional 782,700 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of Apollo Global Management by 15,187.7% in the fourth quarter. Proficio Capital Partners LLC now owns 639,027 shares of the financial services provider’s stock valued at $105,542,000 after acquiring an additional 634,847 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Apollo Global Management by 813.6% during the fourth quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock valued at $89,646,000 after acquiring an additional 483,369 shares during the last quarter. Finally, Holocene Advisors LP increased its position in Apollo Global Management by 530.9% during the 3rd quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock worth $50,242,000 after purchasing an additional 338,472 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of APO stock opened at $142.18 on Friday. The firm has a fifty day simple moving average of $153.07 and a 200-day simple moving average of $152.75. The company has a market capitalization of $81.11 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. 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 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. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.30%. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the completion of the sale, the chief financial officer now owns 377,164 shares in the company, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Leon D. Black sold 500,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were 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 in the company, valued at $4,913,877,766. This trade represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

Analyst Upgrades and Downgrades

APO has been the topic of several analyst reports. Wells Fargo & Company decreased their price target on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. TD Cowen increased their target price on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods lowered their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley boosted their price objective on shares of Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.21.

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.