MGB Wealth Management LLC Has $892,000 Holdings in Apollo Global Management, Inc. (NYSE:APO)

MGB Wealth Management LLC boosted its position in Apollo Global Management, Inc. (NYSE:APO) by 212.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,398 shares of the financial services provider’s stock after buying an additional 3,668 shares during the period. MGB Wealth Management LLC’s holdings in Apollo Global Management were worth $892,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of APO. Van ECK Associates Corp lifted its stake in shares of Apollo Global Management by 8.7% in the 4th quarter. Van ECK Associates Corp now owns 86,925 shares of the financial services provider’s stock valued at $14,357,000 after purchasing an additional 6,982 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Apollo Global Management by 2.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,429 shares of the financial services provider’s stock valued at $17,321,000 after buying an additional 2,241 shares during the period. Great Lakes Retirement Inc. lifted its stake in Apollo Global Management by 1.7% in the fourth quarter. Great Lakes Retirement Inc. now owns 8,814 shares of the financial services provider’s stock valued at $1,456,000 after buying an additional 145 shares during the period. Hartford Investment Management Co. bought a new position in shares of Apollo Global Management during the 4th quarter worth approximately $4,572,000. Finally, TFB Advisors LLC grew its position in shares of Apollo Global Management by 0.9% during the 4th quarter. TFB Advisors LLC now owns 19,199 shares of the financial services provider’s stock worth $3,171,000 after buying an additional 171 shares during the period. Institutional investors own 77.06% of the company’s stock.

Insiders Place Their Bets

In other Apollo Global Management news, insider Leon D. Black sold 58,200 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the transaction, the insider now directly owns 35,104,773 shares in the company, valued at $6,086,114,495.01. The trade was a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the transaction, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,600 shares of company stock valued at $34,186,128. Insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $157.46 on Thursday. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The company’s 50 day moving average price is $168.28 and its two-hundred day moving average price is $145.59. The stock has a market cap of $89.09 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.28 and a beta of 1.63. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.17%. Apollo Global Management’s dividend payout ratio (DPR) is currently 25.31%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on APO. Morgan Stanley increased their target price on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Evercore ISI increased their price objective on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Citigroup raised their target price on Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Piper Sandler increased their price target on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.74.

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.