Edgewood Management LLC Boosts Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Edgewood Management LLC grew its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 231.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,000 shares of the financial services provider’s stock after purchasing an additional 37,000 shares during the quarter. Edgewood Management LLC’s holdings in Apollo Global Management were worth $8,753,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Hopwood Financial Services Inc. bought a new position in Apollo Global Management during the fourth quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC purchased a new position in Apollo Global Management in the fourth quarter valued at about $34,000. Byrne Asset Management LLC bought a new position in shares of Apollo Global Management during the 4th quarter valued at approximately $37,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Apollo Global Management during the 4th quarter worth approximately $39,000. Finally, HM Payson & Co. bought a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $45,000. 77.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the business’s 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 directly owns 377,164 shares of the company’s stock, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the transaction, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

Shares of APO opened at $108.22 on Friday. 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 cap of $61.74 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $148.49 and a 200-day moving average price of $153.82.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors 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 annualized dividend and a yield of 1.71%. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wells Fargo & Company reduced their price objective on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Bank of America increased their price target on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley boosted their price objective on 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. Piper Sandler cut their target price on shares of Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, TD Cowen boosted their price target on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $168.26.

Apollo Global Management 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.