HCR Wealth Advisors Makes New $204,000 Investment in Apollo Global Management, Inc. (NYSE:APO)

HCR Wealth Advisors purchased a new position in shares of Apollo Global Management, Inc. (NYSE:APO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,237 shares of the financial services provider’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in shares of Apollo Global Management by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after purchasing an additional 254,268 shares in the last quarter. Legal & General Group Plc increased its position in Apollo Global Management by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock worth $517,527,000 after purchasing an additional 126,859 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after buying an additional 383,557 shares during the period. Janus Henderson Group PLC lifted its position in Apollo Global Management by 0.4% during the third quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock valued at $167,298,000 after buying an additional 4,892 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in Apollo Global Management by 2.9% during the second quarter. 1832 Asset Management L.P. now owns 1,294,530 shares of the financial services provider’s stock worth $152,845,000 after buying an additional 37,070 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Evercore ISI upped their target price on 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 increased 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. Keefe, Bruyette & Woods upped their price target on Apollo Global Management from $168.00 to $196.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Finally, Morgan Stanley increased their price objective on shares of Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.32.

Apollo Global Management Stock Performance

Shares of APO opened at $165.80 on Friday. The stock has a market capitalization of $93.81 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.20 and a beta of 1.63. The business’s fifty day moving average price is $168.97 and its 200 day moving average price is $139.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. Apollo Global Management, Inc. has a 12-month low of $94.34 and a 12-month high of $189.49.

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a $0.463 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.33%.

Insider Activity

In related news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 320,564 shares in the company, valued at $55,332,552.04. The trade was a 1.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Leon D. Black sold 58,200 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the transaction, the insider now owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. The trade was a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 196,600 shares of company stock valued at $34,186,128. Company 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.