Sage Investment Counsel LLC Acquires Shares of 3,090 Apollo Global Management, Inc. (NYSE:APO)

Sage Investment Counsel LLC acquired a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,090 shares of the financial services provider’s stock, valued at approximately $510,000.

A number of other large investors have also added to or reduced their stakes in APO. Bank of New York Mellon Corp raised its stake in Apollo Global Management by 42.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock valued at $436,148,000 after buying an additional 782,700 shares during the last quarter. Proficio Capital Partners LLC raised its stake in Apollo Global Management by 15,187.7% during the fourth quarter. Proficio Capital Partners LLC now owns 639,027 shares of the financial services provider’s stock valued at $105,542,000 after buying an additional 634,847 shares during the last quarter. Principal Financial Group Inc. raised its stake in Apollo Global Management by 813.6% during the fourth quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock valued at $89,646,000 after buying an additional 483,369 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after purchasing an additional 383,557 shares during the last quarter. Finally, Holocene Advisors LP raised its stake in shares of Apollo Global Management by 530.9% in the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock worth $50,242,000 after purchasing an additional 338,472 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

APO has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. The Goldman Sachs Group boosted their price target on Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Morgan Stanley boosted their price target on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Citigroup boosted their price target on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Piper Sandler boosted their price target on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $165.74.

Apollo Global Management Stock Performance

NYSE:APO opened at $149.21 on Friday. The stock has a 50-day simple moving average of $163.39 and a two-hundred day simple moving average of $149.05. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $84.42 billion, a PE ratio of 20.41, a P/E/G ratio of 1.17 and a beta of 1.63.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Insider Buying and Selling at Apollo Global Management

In other news, 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 value of $23,232,944.00. Following the completion of the transaction, the insider now owns 35,471,373 shares of the company’s stock, valued at $6,177,694,321.68. This represents a 0.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value 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 approximately $55,332,552.04. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,600 shares of company stock valued at $34,977,528. Company insiders own 8.50% of the company’s stock.

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.