Janney Montgomery Scott LLC Acquires New Stake in Apollo Global Management, Inc. (NYSE:APO)

Janney Montgomery Scott LLC acquired a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 200,787 shares of the financial services provider’s stock, valued at approximately $33,162,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Apollo Global Management by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after buying an additional 254,268 shares in the last quarter. Legal & General Group Plc increased its position in Apollo Global Management by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock valued at $517,527,000 after buying an additional 126,859 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Apollo Global Management by 27.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after buying an additional 383,557 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Apollo Global Management by 0.4% during 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 purchasing an additional 4,892 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Apollo Global Management by 0.4% during the 3rd quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock valued at $147,670,000 after purchasing an additional 4,600 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

APO has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on Apollo Global Management from $197.00 to $191.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. increased their target price on Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Piper Sandler increased 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. Finally, Morgan Stanley increased their target price on Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.32.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now owns 320,564 shares in the company, valued at approximately $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $174.16, for a total value of $23,232,944.00. Following the completion of the transaction, the insider now owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 196,600 shares of company stock valued at $34,186,128. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Trading Up 0.4 %

Shares of APO stock opened at $169.49 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 current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock’s 50-day moving average price is $169.49 and its 200-day moving average price is $141.05. The stock has a market capitalization of $95.90 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 1.36 and a beta of 1.63.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a $0.463 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.09%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, November 18th. Apollo Global Management’s payout ratio is 19.33%.

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.