Advisory Services Network LLC Increases Holdings in Apollo Global Management, Inc. (NYSE:APO)

Advisory Services Network LLC grew its stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,221 shares of the financial services provider's stock after buying an additional 2,805 shares during the quarter. Advisory Services Network LLC's holdings in Apollo Global Management were worth $6,478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Kestra Private Wealth Services LLC bought a new position in Apollo Global Management during the 4th quarter valued at approximately $3,994,000. Fortress Financial Solutions LLC bought a new stake in Apollo Global Management in the fourth quarter valued at $685,000. Leavell Investment Management Inc. lifted its position in shares of Apollo Global Management by 39.8% in the 4th quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider's stock worth $1,016,000 after purchasing an additional 1,750 shares during the period. Amundi increased its position in shares of Apollo Global Management by 13.2% during the fourth quarter. Amundi now owns 801,260 shares of the financial services provider's stock valued at $129,788,000 after buying an additional 93,451 shares during the period. Finally, State of Michigan Retirement System purchased a new position in shares of Apollo Global Management in the 4th quarter valued at approximately $20,034,000. Institutional investors own 77.06% of the company's stock.

Insider Transactions at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of the business's stock in a transaction dated 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 directly owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the business's stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the acquisition, the insider now directly owns 621,754 shares in the company, valued at $69,257,178.06. This represents a 4,331.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 8.50% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Bank of America upped their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 4th. TD Cowen lowered their price objective on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley lifted their price target on Apollo Global Management from $169.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. Piper Sandler reduced their price objective on shares of Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Finally, Barclays cut their price target on shares of Apollo Global Management from $196.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $157.95.

Apollo Global Management Stock Performance

NYSE APO traded down $0.87 on Monday, hitting $125.05. 1,090,743 shares of the company traded hands, compared to its average volume of 4,224,575. The business's 50 day moving average price is $141.67 and its 200-day moving average price is $153.65. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $71.34 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a $0.4625 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.48%. Apollo Global Management's payout ratio 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.