Apollo Global Management, Inc. (NYSE:APO) Shares Bought by Independent Advisor Alliance

Independent Advisor Alliance increased its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 78.0% in the 4th quarter, HoldingsChannel reports. The firm owned 3,438 shares of the financial services provider’s stock after purchasing an additional 1,506 shares during the period. Independent Advisor Alliance’s holdings in Apollo Global Management were worth $568,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of APO. Charles Schwab Investment Management Inc. grew its stake in Apollo Global Management by 60.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock worth $479,057,000 after purchasing an additional 1,094,464 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Apollo Global Management by 42.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock worth $436,148,000 after purchasing an additional 782,700 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Apollo Global Management by 15,187.7% during the 4th quarter. Proficio Capital Partners LLC now owns 639,027 shares of the financial services provider’s stock worth $105,542,000 after purchasing an additional 634,847 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Apollo Global Management by 813.6% during the fourth quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock worth $89,646,000 after purchasing an additional 483,369 shares in the last quarter. Finally, Holocene Advisors LP grew its stake in shares of Apollo Global Management by 530.9% during the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock worth $50,242,000 after purchasing an additional 338,472 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Trading Up 3.2 %

NYSE:APO opened at $134.36 on Monday. 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 simple moving average is $156.36 and its 200-day simple moving average is $151.32. The firm has a market cap of $76.65 billion, a P/E ratio of 18.38, a PEG ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Insider Buying and Selling

In related 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 transaction 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. This trade represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Morgan Stanley boosted their target price on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods lowered their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. BMO Capital Markets upped their target price 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. Finally, Piper Sandler upped their target price on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One equities research 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.74.

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.