MGB Wealth Management LLC Has $892,000 Holdings in Apollo Global Management, Inc. (NYSE:APO)

MGB Wealth Management LLC increased its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 212.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,398 shares of the financial services provider’s stock after buying an additional 3,668 shares during the period. MGB Wealth Management LLC’s holdings in Apollo Global Management were worth $892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Byrne Asset Management LLC bought a new position in Apollo Global Management during the fourth quarter worth about $37,000. Retirement Wealth Solutions LLC bought a new position in shares of Apollo Global Management during the 4th quarter worth approximately $39,000. UMB Bank n.a. increased its holdings in shares of Apollo Global Management by 447.1% during the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 228 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Apollo Global Management in the 3rd quarter valued at $80,000. Finally, Truvestments Capital LLC bought a new stake in Apollo Global Management in the 3rd quarter valued at $83,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Leon D. Black sold 58,200 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the sale, the insider now owns 35,104,773 shares of the company’s stock, valued at $6,086,114,495.01. The trade was a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value 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 a total of 196,600 shares of company stock valued at $34,186,128 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Down 0.4 %

Shares of NYSE:APO opened at $157.46 on Thursday. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The company has a market capitalization of $89.09 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 1.28 and a beta of 1.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The company has a fifty day moving average of $168.28 and a 200-day moving average of $145.59.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be given a dividend of $0.4625 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.17%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Analysts Set New Price Targets

A number of research analysts recently commented on APO shares. TD Cowen upped their price target on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Wells Fargo & Company cut their price objective on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Keefe, Bruyette & Woods decreased their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. The Goldman Sachs Group lifted their price target on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Piper Sandler increased their price target on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.74.

Apollo Global Management Company 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.