National Wealth Management Group LLC Takes Position in Apollo Global Management, Inc. (NYSE:APO)

National Wealth Management Group LLC bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the 4th quarter, Holdings Channel.com reports. The firm bought 6,604 shares of the financial services provider’s stock, valued at approximately $1,091,000.

Other institutional investors also recently bought and sold shares of the company. Kestra Private Wealth Services LLC bought a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $3,994,000. Fortress Financial Solutions LLC acquired a new stake in Apollo Global Management during the fourth quarter worth $685,000. Leavell Investment Management Inc. increased its holdings in Apollo Global Management by 39.8% in the 4th quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock valued at $1,016,000 after buying an additional 1,750 shares during the period. State of Michigan Retirement System acquired a new position in shares of Apollo Global Management in the 4th quarter valued at $20,034,000. Finally, Amundi lifted its holdings in shares of Apollo Global Management by 13.2% during the 4th quarter. Amundi now owns 801,260 shares of the financial services provider’s stock worth $129,788,000 after acquiring an additional 93,451 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Stock Up 0.1 %

Shares of Apollo Global Management stock opened at $137.08 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The business has a 50-day moving average of $151.87 and a two-hundred day moving average of $153.76. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The company has a market capitalization of $78.20 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is 25.31%.

Insider Buying and Selling

In other news, insider Leon D. Black sold 500,000 shares of the firm’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 transaction, the insider now directly owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This trade represents a 1.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares of the company’s stock, valued at $59,697,517.92. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APO. 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 report on Monday, December 9th. BMO Capital Markets lifted their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Morgan Stanley lifted their target price 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. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler raised their target price on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.21.

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.