Golden State Equity Partners Grows Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Golden State Equity Partners raised its position in Apollo Global Management, Inc. (NYSE:APO) by 89.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,519 shares of the financial services provider’s stock after acquiring an additional 1,660 shares during the quarter. Golden State Equity Partners’ holdings in Apollo Global Management were worth $581,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Apollo Global Management by 27.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after buying an additional 383,557 shares during the period. International Assets Investment Management LLC increased its position in shares of Apollo Global Management by 12,086.7% during the third quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock valued at $462,460,000 after buying an additional 367,195 shares during the period. Holocene Advisors LP increased its position 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 valued at $50,242,000 after buying an additional 338,472 shares during the period. Geode Capital Management LLC increased its position in shares of Apollo Global Management by 4.7% during the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after buying an additional 254,268 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Apollo Global Management by 43.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 767,014 shares of the financial services provider’s stock valued at $95,808,000 after buying an additional 233,670 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on APO shares. Deutsche Bank Aktiengesellschaft boosted 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. Evercore ISI boosted their price objective on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Apollo Global Management from $168.00 to $196.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Finally, UBS Group raised shares of Apollo Global Management to a “hold” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and an average price target of $164.32.

Apollo Global Management Stock Down 0.4 %

APO opened at $171.00 on Monday. 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 moving average price of $170.11 and a 200-day moving average price of $143.47. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The stock has a market capitalization of $96.75 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.37 and a beta of 1.63.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a dividend of $0.463 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.08%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, November 18th. Apollo Global Management’s payout ratio is presently 19.33%.

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.