Pinnacle Financial Partners Inc Grows Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Pinnacle Financial Partners Inc increased its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,283 shares of the financial services provider’s stock after purchasing an additional 1,970 shares during the period. Pinnacle Financial Partners Inc’s holdings in Apollo Global Management were worth $14,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Byrne Asset Management LLC purchased a new stake in Apollo Global Management during the fourth quarter valued at approximately $37,000. Retirement Wealth Solutions LLC purchased a new stake in Apollo Global Management during the fourth quarter valued at approximately $39,000. UMB Bank n.a. increased its holdings in Apollo Global Management by 447.1% during the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after buying an additional 228 shares during the last quarter. Versant Capital Management Inc increased its holdings in Apollo Global Management by 203.6% during the fourth quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider’s stock valued at $83,000 after buying an additional 336 shares during the last quarter. Finally, Y.D. More Investments Ltd purchased a new stake in Apollo Global Management during the fourth quarter valued at approximately $89,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apollo Global Management

In other news, insider Leon D. Black sold 58,200 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the sale, the insider now owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. This represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction 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. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 201,600 shares of company stock valued at $34,977,528 over the last 90 days. 8.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on APO shares. Barclays upped their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. UBS Group upgraded shares of Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. Keefe, Bruyette & Woods dropped their price target 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. The Goldman Sachs Group upped their price target on shares of Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company dropped their price target on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $165.74.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $150.45 on Friday. The company has a market cap of $85.13 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.24 and a beta of 1.63. The firm’s fifty day moving average is $165.90 and its 200 day moving average is $147.53. 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, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

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.