Joel Isaacson & Co. LLC Has $12.99 Million Stake in Apollo Global Management, Inc. (NYSE:APO)

Joel Isaacson & Co. LLC raised its position in Apollo Global Management, Inc. (NYSE:APO) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,677 shares of the financial services provider’s stock after acquiring an additional 2,357 shares during the quarter. Apollo Global Management makes up about 0.6% of Joel Isaacson & Co. LLC’s investment portfolio, making the stock its 25th largest holding. Joel Isaacson & Co. LLC’s holdings in Apollo Global Management were worth $12,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of APO. Compagnie Lombard Odier SCmA acquired a new stake in Apollo Global Management during the 3rd quarter valued at $35,000. Retirement Wealth Solutions LLC bought a new stake in shares of Apollo Global Management in the fourth quarter valued at about $39,000. UMB Bank n.a. grew its stake in shares of Apollo Global Management by 447.1% in the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 228 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Apollo Global Management during the third quarter worth about $80,000. Finally, Truvestments Capital LLC acquired a new stake in Apollo Global Management in the 3rd quarter worth about $83,000. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $163.39 on Friday. The stock has a 50-day moving average price of $169.13 and a two-hundred day moving average price of $144.66. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a market capitalization of $92.45 billion, a PE ratio of 17.07, a P/E/G ratio of 1.37 and a beta of 1.63. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be issued a $0.4625 dividend. 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 1.13%. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.33%.

Insider Buying and Selling

In related news, 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 value of $863,050.00. Following the completion of the sale, the chief financial officer now directly owns 320,564 shares in the company, valued at $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Leon D. Black sold 58,200 shares of Apollo Global Management stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders have sold a total of 196,600 shares of company stock worth $34,186,128 in the last ninety days. Company insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APO. Citigroup raised their target price on shares of Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company lowered their price objective on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a research note on Wednesday. Piper Sandler upped their target price on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Evercore ISI raised their price target 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. Finally, StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. One investment 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.00.

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.