Apollo Global Management, Inc. (NYSE:APO) Shares Acquired by Summit Financial LLC

Summit Financial LLC increased its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 195.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,792 shares of the financial services provider’s stock after acquiring an additional 5,157 shares during the quarter. Summit Financial LLC’s holdings in Apollo Global Management were worth $1,287,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of APO. Hopwood Financial Services Inc. acquired a new position in shares of Apollo Global Management in the 4th quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in Apollo Global Management in the fourth quarter worth approximately $34,000. Byrne Asset Management LLC bought a new position in shares of Apollo Global Management in the fourth quarter valued at $37,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at $39,000. Finally, HM Payson & Co. bought a new stake in shares of Apollo Global Management during the 4th quarter worth $45,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Stock Performance

Shares of APO opened at $138.30 on Wednesday. The firm has a market cap of $78.90 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company’s fifty day moving average is $151.25 and its 200-day moving average is $153.93. 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, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.4625 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.34%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction 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 represents a 1.42 % 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on APO shares. Barclays upped their target price on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Wells Fargo & Company dropped their target price on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Keefe, Bruyette & Woods decreased their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Finally, BMO Capital Markets boosted their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $165.21.

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.