Insider Selling: Apollo Global Management, Inc. (NYSE:APO) Insider Sells $71,000,000.00 in Stock

Apollo Global Management, Inc. (NYSE:APO) insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares in the company, valued at $4,913,877,766. The trade was a 1.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $143.53 on Monday. 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 stock’s fifty day moving average price is $154.31 and its two-hundred day moving average price is $152.32. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The firm has a market cap of $81.88 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is 25.31%.

Wall Street Analyst Weigh In

APO has been the topic of several recent analyst reports. TD Cowen boosted their price target on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Barclays boosted their price target on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Wells Fargo & Company lowered their price target on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods lowered their price target on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, BMO Capital Markets boosted their price target on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $165.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ellevest Inc. grew its holdings in Apollo Global Management by 1.5% in the 4th quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider’s stock valued at $735,000 after buying an additional 67 shares in the last quarter. Menard Financial Group LLC lifted its position in shares of Apollo Global Management by 1.2% during the 3rd quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider’s stock valued at $720,000 after acquiring an additional 71 shares during the period. SRS Capital Advisors Inc. lifted its position in shares of Apollo Global Management by 2.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider’s stock valued at $447,000 after acquiring an additional 71 shares during the period. Vivaldi Capital Management LP lifted its position in shares of Apollo Global Management by 2.1% during the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider’s stock valued at $566,000 after acquiring an additional 71 shares during the period. Finally, Tower Wealth Partners Inc. lifted its position in shares of Apollo Global Management by 4.4% during the 4th quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 74 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

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.