Summit Financial LLC Grows Stake in Apollo Global Management, Inc. (NYSE:APO)

Summit Financial LLC lifted its stake in Apollo Global Management, Inc. (NYSE:APO) by 195.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,792 shares of the financial services provider’s stock after buying an additional 5,157 shares during the period. Summit Financial LLC’s holdings in Apollo Global Management were worth $1,287,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of APO. Bamco Inc. NY boosted its holdings in Apollo Global Management by 2.9% in the 3rd quarter. Bamco Inc. NY now owns 137,429 shares of the financial services provider’s stock worth $17,166,000 after acquiring an additional 3,813 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of Apollo Global Management by 372.4% in the third quarter. Benjamin Edwards Inc. now owns 20,196 shares of the financial services provider’s stock valued at $2,523,000 after purchasing an additional 15,921 shares during the period. Beacon Investment Advisory Services Inc. grew its holdings in Apollo Global Management by 142.1% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 21,755 shares of the financial services provider’s stock valued at $2,717,000 after purchasing an additional 12,770 shares in the last quarter. Holocene Advisors LP increased its stake in Apollo Global Management by 530.9% during the 3rd quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock worth $50,242,000 after buying an additional 338,472 shares during the period. Finally, Hilltop Holdings Inc. lifted its holdings in Apollo Global Management by 132.6% in the 3rd quarter. Hilltop Holdings Inc. now owns 8,256 shares of the financial services provider’s stock worth $1,031,000 after buying an additional 4,707 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on APO. Piper Sandler raised their target price on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. TD Cowen raised their price objective on 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 target price on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. One equities 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $165.21.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management 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 sale, the chief financial officer now owns 377,164 shares of the company’s stock, valued at $59,697,517.92. The trade was a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the 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 completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $138.30 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $78.90 billion, a PE ratio of 18.92, a P/E/G ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49. The business’s fifty day moving average price is $151.25 and its two-hundred day moving average price is $153.93.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.34%. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

Apollo Global Management 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.