Lb 2018 Gst Trust Buys 607,725 Shares of Apollo Global Management, Inc. (NYSE:APO) Stock

Apollo Global Management, Inc. (NYSE:APO) insider Lb 2018 Gst Trust purchased 607,725 shares of Apollo Global Management stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the transaction, the insider now directly owns 621,754 shares of the company’s stock, valued at $69,257,178.06. This trade represents a 4,331.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Apollo Global Management Stock Performance

Shares of APO traded down $2.31 during mid-day trading on Tuesday, hitting $110.06. 7,459,622 shares of the company’s stock were exchanged, compared to its average volume of 3,670,809. 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, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The business’s 50 day moving average is $147.39 and its two-hundred day moving average is $154.01. The firm has a market capitalization of $62.78 billion, a P/E ratio of 15.06, a P/E/G ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 25.31%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. TD Cowen boosted their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. Morgan Stanley upped their price objective on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Wells Fargo & Company decreased their target price on shares of Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating for the company in a research note on Tuesday. BMO Capital Markets upped their price target on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods reduced their price objective on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and an average target price of $161.68.

Institutional Investors Weigh In On Apollo Global Management

A number of hedge funds and other institutional investors have recently modified their holdings of APO. Geode Capital Management LLC grew its position in shares of Apollo Global Management by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock valued at $1,550,316,000 after purchasing an additional 3,695,979 shares during the last quarter. Vanguard Group Inc. raised its stake in Apollo Global Management by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after purchasing an additional 3,691,700 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Apollo Global Management by 245.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock valued at $438,196,000 after purchasing an additional 1,886,146 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Apollo Global Management by 36.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock worth $1,065,615,000 after purchasing an additional 1,739,807 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock worth $723,853,000 after buying an additional 1,460,689 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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.