Fifth Third Wealth Advisors LLC Makes New Investment in Apollo Global Management, Inc. (NYSE:APO)

Fifth Third Wealth Advisors LLC acquired a new position in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,040 shares of the financial services provider's stock, valued at approximately $667,000.

A number of other institutional investors also recently bought and sold shares of APO. Envestnet Asset Management Inc. lifted its holdings in shares of Apollo Global Management by 3.4% in the second quarter. Envestnet Asset Management Inc. now owns 423,836 shares of the financial services provider's stock valued at $50,042,000 after purchasing an additional 13,935 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Apollo Global Management in the 2nd quarter valued at approximately $62,972,000. Dimensional Fund Advisors LP grew its holdings in Apollo Global Management by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,100,820 shares of the financial services provider's stock valued at $129,973,000 after buying an additional 91,506 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in Apollo Global Management by 6.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 16,820 shares of the financial services provider's stock worth $1,986,000 after buying an additional 1,071 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Apollo Global Management by 29.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,106 shares of the financial services provider's stock worth $2,363,000 after acquiring an additional 4,593 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Leon D. Black sold 58,200 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the transaction, the insider now owns 35,104,773 shares in the company, valued at approximately $6,086,114,495.01. The trade was a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 196,600 shares of company stock worth $34,186,128. 8.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

APO has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on Apollo Global Management from $111.00 to $137.00 and gave the company an "equal weight" rating in a research note on Thursday, October 10th. Wolfe Research assumed coverage on shares of Apollo Global Management in a report on Wednesday, September 25th. They set an "outperform" rating and a $139.00 price target for the company. Piper Sandler boosted their price objective on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. raised their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group boosted their price target on Apollo Global Management from $161.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Apollo Global Management presently has an average rating of "Moderate Buy" and an average price target of $164.32.

Apollo Global Management Trading Up 0.5 %

APO traded up $0.89 during trading on Friday, hitting $166.81. 3,580,328 shares of the company's stock were exchanged, compared to its average volume of 3,568,194. The stock has a 50 day moving average price of $169.09 and a 200 day moving average price of $139.35. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year 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 firm has a market cap of $94.38 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 1.20 and a beta of 1.63.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a $0.463 dividend. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date was Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.11%. Apollo Global Management's dividend payout ratio is presently 19.33%.

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.