Global Retirement Partners LLC Buys Shares of 10,188 Apollo Global Management Inc. $APO

Global Retirement Partners LLC bought a new position in Apollo Global Management Inc. (NYSE:APO) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,188 shares of the financial services provider’s stock, valued at approximately $1,445,000.

Other hedge funds have also recently made changes to their positions in the company. Activest Wealth Management increased its stake in Apollo Global Management by 875.0% in the 2nd quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 175 shares during the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Apollo Global Management by 6,900.0% during the second quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 207 shares in the last quarter. Nemes Rush Group LLC purchased a new position in shares of Apollo Global Management during the second quarter worth about $30,000. Andra AP fonden bought a new position in shares of Apollo Global Management in the second quarter worth approximately $31,000. Finally, Bay Harbor Wealth Management LLC raised its stake in Apollo Global Management by 5,200.0% in the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 260 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Leon D. Black sold 915,000 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total value of $122,637,450.00. Following the sale, the insider directly owned 4,526,000 shares of the company’s stock, valued at $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.20% of the company’s stock.

Apollo Global Management Stock Performance

Apollo Global Management stock opened at $130.50 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm has a market cap of $75.74 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.42 and a beta of 1.63. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49. The firm has a 50-day moving average of $129.24 and a 200-day moving average of $135.93.

Apollo Global Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.51 per share. The ex-dividend date is Monday, November 17th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. Apollo Global Management’s dividend payout ratio is 29.82%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating and set a $155.00 price objective on shares of Apollo Global Management in a research report on Tuesday. Cowen reissued a “buy” rating on shares of Apollo Global Management in a research note on Tuesday. BMO Capital Markets set a $136.00 price target on Apollo Global Management and gave the company a “market perform” rating in a research report on Tuesday. Piper Sandler reiterated an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. Finally, Morgan Stanley raised Apollo Global Management from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $151.00 to $180.00 in a report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.85.

Apollo Global Management 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.