Ritholtz Wealth Management Invests $229,000 in Apollo Global Management, Inc. (NYSE:APO)

Ritholtz Wealth Management acquired a new position in shares of Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,386 shares of the financial services provider’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. bought a new stake in Apollo Global Management during the fourth quarter worth about $704,000. HCR Wealth Advisors bought a new stake in Apollo Global Management in the 4th quarter worth approximately $204,000. Park Avenue Securities LLC boosted its stake in Apollo Global Management by 26.2% in the fourth quarter. Park Avenue Securities LLC now owns 4,350 shares of the financial services provider’s stock worth $718,000 after buying an additional 903 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Apollo Global Management by 9.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 11,115 shares of the financial services provider’s stock valued at $1,836,000 after acquiring an additional 954 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of Apollo Global Management during the fourth quarter worth approximately $667,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Stock Down 0.2 %

Shares of NYSE APO opened at $168.96 on Thursday. The firm has a fifty day simple moving average of $169.39 and a two-hundred day simple moving average of $140.85. The firm has a market capitalization of $95.60 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.34 and a beta of 1.63. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were issued a $0.463 dividend. The ex-dividend date of this dividend was Monday, November 18th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a yield of 1.10%. Apollo Global Management’s dividend payout ratio (DPR) is 19.33%.

Insider Buying and Selling 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 shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the transaction, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at $55,332,552.04. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Leon D. Black sold 133,400 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the sale, the insider now owns 35,471,373 shares in the company, valued at approximately $6,177,694,321.68. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. In 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 corporate insiders.

Analyst Ratings Changes

APO has been the subject of a number of research reports. Wolfe Research assumed coverage on shares of Apollo Global Management in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley lifted their price objective on Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. UBS Group raised Apollo Global Management to a “hold” rating in a research note on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods raised their price target on Apollo Global Management from $168.00 to $196.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. One research 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $164.32.

Apollo Global Management Company 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.