Insider Buying: Apollo Global Management, Inc. (NYSE:APO) Insider Purchases $67,694,487.75 in Stock

Apollo Global Management, Inc. (NYSE:APO) insider Lb 2018 Gst Trust acquired 607,725 shares of the stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares in the company, valued at approximately $69,257,178.06. The trade was a 4,331.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Apollo Global Management Stock Performance

Shares of APO stock opened at $123.99 on Friday. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The stock’s 50-day moving average is $142.41 and its two-hundred day moving average is $153.44. 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 firm has a market cap of $70.73 billion, a P/E ratio of 16.96, a PEG ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s payout ratio is presently 25.31%.

Institutional Trading of Apollo Global Management

A number of institutional investors have recently added to or reduced their stakes in the business. Quantinno Capital Management LP raised its holdings in shares of Apollo Global Management by 50.9% during the 3rd quarter. Quantinno Capital Management LP now owns 18,854 shares of the financial services provider’s stock valued at $2,355,000 after purchasing an additional 6,358 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in Apollo Global Management during the third quarter valued at about $3,833,000. Insigneo Advisory Services LLC acquired a new stake in shares of Apollo Global Management in the third quarter worth about $316,000. EP Wealth Advisors LLC boosted its stake in shares of Apollo Global Management by 61.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 5,456 shares of the financial services provider’s stock worth $681,000 after acquiring an additional 2,081 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Apollo Global Management by 11.9% during the 3rd quarter. National Bank of Canada FI now owns 9,089 shares of the financial services provider’s stock valued at $1,135,000 after acquiring an additional 970 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APO has been the topic of several recent research reports. Raymond James started coverage on shares of Apollo Global Management in a research report on Thursday. They issued a “strong-buy” rating and a $173.00 price target on the stock. Wells Fargo & Company decreased their target price on Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating on the stock in a report on Tuesday. Piper Sandler reduced their target price on Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. TD Cowen dropped their price target on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, BMO Capital Markets boosted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $157.95.

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.