Coastline Trust Co Acquires Shares of 16,669 Apollo Global Management, Inc. (NYSE:APO)

Coastline Trust Co bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,669 shares of the financial services provider's stock, valued at approximately $2,753,000.

Other large investors have also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in Apollo Global Management in the fourth quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC bought a new stake in Apollo Global Management during the 4th quarter worth approximately $34,000. Byrne Asset Management LLC bought a new position in shares of Apollo Global Management during the fourth quarter valued at $37,000. Retirement Wealth Solutions LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at $39,000. Finally, HM Payson & Co. acquired a new position in Apollo Global Management during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Price Performance

Shares of APO traded up $6.06 during midday trading on Thursday, hitting $132.61. 1,417,364 shares of the company traded hands, compared to its average volume of 4,152,563. 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 stock has a market cap of $75.65 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The firm has a 50 day moving average of $135.86 and a 200-day moving average of $153.05.

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 given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.40%. Apollo Global Management's dividend payout ratio (DPR) is presently 25.31%.

Insider Activity

In related news, CFO Martin Kelly sold 5,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the transaction, the chief financial officer now directly owns 377,164 shares in the company, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the sale, 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. Corporate insiders own 8.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APO. Citigroup decreased their price objective on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company cut their price target on Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Raymond James began coverage on Apollo Global Management in a research report on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price target for the company. TD Cowen lowered their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Piper Sandler cut their price target on shares of Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.00.

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.