Apollo Global Management, Inc. (NYSE:APO) Stock Position Boosted by AdvisorNet Financial Inc

AdvisorNet Financial Inc lifted its stake in Apollo Global Management, Inc. (NYSE:APO) by 744.1% in the fourth quarter, HoldingsChannel reports. The fund owned 2,009 shares of the financial services provider’s stock after purchasing an additional 1,771 shares during the quarter. AdvisorNet Financial Inc’s holdings in Apollo Global Management were worth $332,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in Apollo Global Management by 3.4% in the second quarter. Envestnet Asset Management Inc. now owns 423,836 shares of the financial services provider’s stock worth $50,042,000 after purchasing an additional 13,935 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of Apollo Global Management in the 2nd quarter worth $62,972,000. Dimensional Fund Advisors LP lifted its holdings in shares of Apollo Global Management by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,100,820 shares of the financial services provider’s stock valued at $129,973,000 after buying an additional 91,506 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in Apollo Global Management by 6.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 16,820 shares of the financial services provider’s stock valued at $1,986,000 after buying an additional 1,071 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Apollo Global Management by 29.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,106 shares of the financial services provider’s stock worth $2,363,000 after acquiring an additional 4,593 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APO has been the subject of several research reports. Wolfe Research assumed coverage on shares of Apollo Global Management in a research report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 price objective for the company. TD Cowen lifted their price target on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. BMO Capital Markets increased their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Evercore ISI lifted their target price on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, UBS Group raised Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $164.32.

Insider Transactions at Apollo Global Management

In related news, insider Leon D. Black sold 133,400 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $174.16, for a total value of $23,232,944.00. Following the completion of the sale, the insider now directly owns 35,471,373 shares in the company, valued at approximately $6,177,694,321.68. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was 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 in the company, valued at $55,332,552.04. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 196,600 shares of company stock valued at $34,186,128 in the last three months. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Trading Up 0.6 %

Apollo Global Management stock opened at $165.80 on Friday. Apollo Global Management, Inc. has a 12 month low of $94.34 and a 12 month high of $189.49. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market cap of $93.81 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.20 and a beta of 1.63. The company’s fifty day simple moving average is $168.97 and its 200-day simple moving average is $139.17.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were given a $0.463 dividend. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Monday, November 18th. Apollo Global Management’s dividend payout ratio is presently 19.33%.

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.