Benjamin Edwards Inc. Raises Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Benjamin Edwards Inc. boosted its position in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 372.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,196 shares of the financial services provider's stock after purchasing an additional 15,921 shares during the period. Benjamin Edwards Inc.'s holdings in Apollo Global Management were worth $2,523,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Atom Investors LP lifted its stake in shares of Apollo Global Management by 93.5% during the 3rd quarter. Atom Investors LP now owns 31,563 shares of the financial services provider's stock worth $3,943,000 after acquiring an additional 15,251 shares during the last quarter. Bamco Inc. NY lifted its holdings in Apollo Global Management by 2.9% during the 3rd quarter. Bamco Inc. NY now owns 137,429 shares of the financial services provider's stock valued at $17,166,000 after buying an additional 3,813 shares in the last quarter. Kestra Investment Management LLC bought a new position in Apollo Global Management in the third quarter worth approximately $1,192,000. Kolinsky Wealth Management LLC bought a new position in shares of Apollo Global Management in the 3rd quarter worth $203,000. Finally, Point72 Europe London LLP lifted its stake in shares of Apollo Global Management by 98.1% during the 3rd quarter. Point72 Europe London LLP now owns 94,701 shares of the financial services provider's stock worth $11,829,000 after purchasing an additional 46,894 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Price Performance

APO traded up $1.00 on Thursday, hitting $175.73. 3,822,681 shares of the company's stock were exchanged, compared to its average volume of 2,725,674. The firm has a 50-day moving average price of $151.42 and a 200-day moving average price of $127.98. The stock has a market cap of $99.43 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 1.79 and a beta of 1.63. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a fifty-two week low of $89.45 and a fifty-two week high of $178.75.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were issued a $0.463 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Monday, November 18th. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio (DPR) is currently 19.33%.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 5,000 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares of the company's stock, valued at $55,332,552.04. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Leon D. Black sold 133,400 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $174.16, for a total value of $23,232,944.00. Following the sale, the insider now directly owns 35,471,373 shares of the company's stock, valued at $6,177,694,321.68. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,600 shares of company stock worth $34,186,128. 8.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on APO shares. Evercore ISI lifted their price objective on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Wolfe Research started coverage on Apollo Global Management in a report on Wednesday, September 25th. They set an "outperform" rating and a $139.00 price objective for the company. Wells Fargo & Company upped their target price on Apollo Global Management from $149.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Argus decreased their price target on Apollo Global Management from $135.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, August 20th. Finally, Redburn Atlantic assumed coverage on Apollo Global Management in a research note on Tuesday, August 27th. They set a "buy" rating and a $153.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $155.05.

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.