Private Portfolio Partners LLC Acquires New Position in Apollo Global Management, Inc. (NYSE:APO)

Private Portfolio Partners LLC bought a new position in Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,270 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other large investors also recently bought and sold shares of the stock. Benjamin Edwards Inc. grew its stake in Apollo Global Management by 372.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 20,196 shares of the financial services provider’s stock valued at $2,523,000 after purchasing an additional 15,921 shares during the last quarter. Hilltop Holdings Inc. boosted its position in Apollo Global Management by 132.6% in the third quarter. Hilltop Holdings Inc. now owns 8,256 shares of the financial services provider’s stock valued at $1,031,000 after buying an additional 4,707 shares during the last quarter. HighTower Advisors LLC increased its holdings in Apollo Global Management by 0.5% in the 3rd quarter. HighTower Advisors LLC now owns 451,980 shares of the financial services provider’s stock worth $56,381,000 after buying an additional 2,121 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Apollo Global Management by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock valued at $167,298,000 after acquiring an additional 4,892 shares during the last quarter. Finally, Investment Management Corp of Ontario boosted its holdings in Apollo Global Management by 49.9% in the third quarter. Investment Management Corp of Ontario now owns 13,222 shares of the financial services provider’s stock valued at $1,652,000 after purchasing an additional 4,400 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated 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 sale, the chief financial officer now directly owns 377,164 shares in the company, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly 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. Company insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on APO shares. TD Cowen lifted their price objective 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. Piper Sandler lowered their target price on shares of Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wells Fargo & Company cut their price target on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Barclays upped their target price on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Morgan Stanley boosted their price target on 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 equities research 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. According to data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average price target of $164.74.

Apollo Global Management Stock Performance

Apollo Global Management stock opened at $141.68 on Thursday. The firm has a 50 day simple moving average of $150.71 and a 200-day simple moving average of $153.85. The stock has a market cap of $80.83 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.4625 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.31%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

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.