Advisors Asset Management Inc. Boosts Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Advisors Asset Management Inc. increased its stake in Apollo Global Management, Inc. (NYSE:APO) by 27.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 24,857 shares of the financial services provider’s stock after buying an additional 5,416 shares during the quarter. Advisors Asset Management Inc.’s holdings in Apollo Global Management were worth $4,105,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in APO. Hopwood Financial Services Inc. purchased a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $34,000. Byrne Asset Management LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $37,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $39,000. Finally, HM Payson & Co. bought a new position in Apollo Global Management in the 4th quarter valued at approximately $45,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling

In other Apollo Global Management news, 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 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. This represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.50% of the stock is owned by insiders.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $144.77 on Friday. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The stock’s fifty day moving average is $154.54 and its 200 day moving average is $151.55. The stock has a market cap of $82.59 billion, a P/E ratio of 19.80, a P/E/G ratio of 1.17 and a beta of 1.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

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 issued 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 1.28%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on APO shares. Wells Fargo & Company lowered their price objective on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a research report on Thursday. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Piper Sandler upped their price objective on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. TD Cowen upped their price objective on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, BMO Capital Markets upped their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.