AdvisorNet Financial Inc Raises Stock Position in Apollo Global Management, Inc. (NYSE:APO)

AdvisorNet Financial Inc increased its holdings in shares of Apollo Global Management, Inc. (NYSE:APOFree Report) by 744.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,009 shares of the financial services provider’s stock after purchasing an additional 1,771 shares during the period. AdvisorNet Financial Inc’s holdings in Apollo Global Management were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA purchased a new stake in shares of Apollo Global Management in the third quarter worth about $35,000. Versant Capital Management Inc lifted its position in Apollo Global Management by 203.6% during the 4th quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider’s stock worth $83,000 after acquiring an additional 336 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Apollo Global Management in the 4th quarter worth approximately $97,000. Prospera Private Wealth LLC acquired a new stake in Apollo Global Management in the third quarter valued at approximately $80,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Apollo Global Management during the third quarter valued at approximately $83,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $165.80 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a 50-day simple moving average of $168.97 and a 200 day simple moving average of $139.17. Apollo Global Management, Inc. has a fifty-two week low of $94.34 and a fifty-two week high of $189.49. The company has a market cap of $93.81 billion, a PE ratio of 17.32, a P/E/G ratio of 1.20 and a beta of 1.63.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.12%. 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 dividend payout ratio is presently 19.33%.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the sale, the chief financial officer now owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Leon D. Black sold 58,200 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the completion of the transaction, the insider now directly owns 35,104,773 shares of the company’s stock, valued at $6,086,114,495.01. This trade represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,600 shares of company stock valued at $34,186,128. Insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

APO has been the subject of several analyst reports. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. TD Cowen raised their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Evercore ISI boosted their price target on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Morgan Stanley raised their price objective 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. Finally, Keefe, Bruyette & Woods upped their target price on Apollo Global Management from $168.00 to $196.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $164.32.

View Our Latest Stock Report on APO

About Apollo Global Management

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

Receive News & Ratings for Apollo Global Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Global Management and related companies with MarketBeat.com's FREE daily email newsletter.