United Services Automobile Association Makes New Investment in Apollo Global Management, Inc. (NYSE:APO)

United Services Automobile Association purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,348 shares of the financial services provider’s stock, valued at approximately $1,709,000.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on APO. Keefe, Bruyette & Woods dropped their price target on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Piper Sandler upped their price target on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. BMO Capital Markets lifted their price objective on shares of 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, TD Cowen upped their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One 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.com, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $165.21.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $143.53 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $81.88 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.17 and a beta of 1.66. The firm’s 50 day simple moving average is $154.31 and its 200-day simple moving average is $152.32. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently declared 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 was Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.29%. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Insiders Place Their Bets

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

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.