Leon D. Black Sells 500,000 Shares of Apollo Global Management, Inc. (NYSE:APO) Stock

Apollo Global Management, Inc. (NYSE:APO) 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 value of $71,000,000.00. Following the sale, the insider now owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This trade represents a 1.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Apollo Global Management Stock Down 0.9 %

Shares of APO traded down $1.24 on Friday, reaching $143.53. The stock had a trading volume of 4,012,222 shares, compared to its average volume of 3,373,489. The company has a 50-day simple moving average of $154.54 and a 200-day simple moving average of $151.55. The firm has a market capitalization of $81.88 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Ellevest Inc. increased its holdings in shares of Apollo Global Management by 1.5% in the 4th quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider’s stock worth $735,000 after purchasing an additional 67 shares in the last quarter. Menard Financial Group LLC grew its holdings in Apollo Global Management by 1.2% during the third quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider’s stock valued at $720,000 after purchasing an additional 71 shares during the period. SRS Capital Advisors Inc. grew its holdings in Apollo Global Management by 2.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 71 shares during the period. Vivaldi Capital Management LP grew its holdings in Apollo Global Management by 2.1% during the fourth quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider’s stock valued at $566,000 after purchasing an additional 71 shares during the period. Finally, Tower Wealth Partners Inc. grew its holdings in Apollo Global Management by 4.4% during the fourth quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 74 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

APO has been the subject of several recent research reports. TD Cowen upped their price target on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. BMO Capital Markets upped their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Wells Fargo & Company reduced their price objective on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research note on Thursday. Morgan Stanley upped their price objective on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Finally, 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 report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.