Umpqua Bank Increases Stake in Apollo Global Management, Inc. (NYSE:APO)

Umpqua Bank raised its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 42.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,427 shares of the financial services provider’s stock after buying an additional 728 shares during the period. Umpqua Bank’s holdings in Apollo Global Management were worth $387,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new stake in shares of Apollo Global Management in the fourth quarter worth $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter worth $34,000. Byrne Asset Management LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter worth $37,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter worth $39,000. Finally, HM Payson & Co. purchased a new stake in shares of Apollo Global Management in the fourth quarter worth $45,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

NYSE:APO opened at $143.53 on Friday. The firm has a market cap 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. The company has a 50 day moving average price of $154.31 and a 200-day moving average price of $151.74. 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 1-year low of $95.11 and a 1-year high of $189.49.

Apollo Global Management Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APO. Morgan Stanley increased their price objective on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. BMO Capital Markets upped their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Piper Sandler upped their target price on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. TD Cowen upped their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. One research 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. According to MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and an average target price of $165.21.

Insider Buying and Selling

In related news, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the sale, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

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.