Smith Moore & CO. Boosts Holdings in Apollo Global Management, Inc. (NYSE:APO)

Smith Moore & CO. raised its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,685 shares of the financial services provider’s stock after buying an additional 100 shares during the period. Smith Moore & CO.’s holdings in Apollo Global Management were worth $609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of APO. Hopwood Financial Services Inc. acquired a new position in shares of Apollo Global Management in the 4th quarter valued at $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Apollo Global Management during the 4th quarter worth approximately $34,000. Byrne Asset Management LLC acquired a new position in shares of Apollo Global Management during the 4th quarter worth approximately $37,000. Retirement Wealth Solutions LLC purchased a new position in shares of Apollo Global Management during the 4th quarter valued at approximately $39,000. Finally, HM Payson & Co. acquired a new stake in Apollo Global Management in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. TD Cowen lifted their price objective on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Barclays boosted their price objective on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Finally, 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 report on Tuesday, February 11th. 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.26.

Apollo Global Management Trading Down 12.3 %

Shares of APO stock opened at $108.22 on Friday. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49. The firm has a market cap of $61.74 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company has a 50-day moving average of $148.49 and a two-hundred day moving average of $153.82. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.71%. Apollo Global Management’s payout ratio is currently 25.31%.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the completion of the transaction, the chief financial officer now owns 377,164 shares in the company, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the sale, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This trade represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

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.