Summit Securities Group LLC Boosts Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Summit Securities Group LLC raised its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 62.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,400 shares of the financial services provider’s stock after purchasing an additional 5,900 shares during the quarter. Apollo Global Management accounts for about 0.5% of Summit Securities Group LLC’s portfolio, making the stock its 24th largest position. Summit Securities Group LLC’s holdings in Apollo Global Management were worth $2,543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in APO. Menard Financial Group LLC raised its position in shares of Apollo Global Management by 1.2% in the 3rd quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider’s stock worth $720,000 after acquiring an additional 71 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings 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 purchasing an additional 71 shares during the last quarter. Tower Wealth Partners Inc. raised its stake in Apollo Global Management by 4.4% in the fourth quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock valued at $288,000 after buying an additional 74 shares during the last quarter. Sfmg LLC grew its position in Apollo Global Management by 1.1% during the 3rd quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock worth $902,000 after purchasing an additional 79 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Apollo Global Management by 0.9% during the fourth quarter. Global Retirement Partners LLC now owns 9,924 shares of the financial services provider’s stock valued at $1,639,000 after buying an additional 90 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Down 3.6 %

Shares of APO opened at $136.89 on Friday. The company’s 50-day moving average price is $152.47 and its 200 day moving average price is $153.27. The firm has a market cap of $78.09 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a $0.4625 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.35%. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the sale, the insider now directly owns 34,604,773 shares in the company, valued at $4,913,877,766. This trade represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the transaction, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Piper Sandler raised their price target on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. TD Cowen increased their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, 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 note on Thursday, March 20th. One equities research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $165.21.

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.