Kovitz Investment Group Partners LLC Invests $3.83 Million in Apollo Global Management, Inc. (NYSE:APO)

Kovitz Investment Group Partners LLC purchased a new position in Apollo Global Management, Inc. (NYSE:APO - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 31,803 shares of the financial services provider's stock, valued at approximately $3,833,000.

A number of other institutional investors also recently made changes to their positions in APO. Cullen Frost Bankers Inc. purchased a new stake in Apollo Global Management during the 2nd quarter valued at about $35,000. Compagnie Lombard Odier SCmA bought a new stake in Apollo Global Management in the third quarter worth $35,000. Prospera Private Wealth LLC purchased a new position in Apollo Global Management during the third quarter worth $80,000. Truvestments Capital LLC bought a new position in Apollo Global Management during the 3rd quarter worth about $83,000. Finally, Allworth Financial LP grew its holdings in Apollo Global Management by 14.3% during the 3rd quarter. Allworth Financial LP now owns 729 shares of the financial services provider's stock worth $91,000 after acquiring an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Trading Down 3.0 %

NYSE APO traded down $5.42 during trading on Monday, hitting $172.43. 19,346,286 shares of the company's stock traded hands, compared to its average volume of 2,801,051. The stock has a fifty day moving average of $153.46 and a two-hundred day moving average of $128.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. Apollo Global Management, Inc. has a 12-month low of $89.76 and a 12-month high of $189.49. The firm has a market cap of $97.56 billion, a P/E ratio of 18.34, a PEG ratio of 1.84 and a beta of 1.63.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a dividend of $0.463 per share. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.07%. Apollo Global Management's dividend payout ratio is presently 19.33%.

Insider Buying and Selling

In related news, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the transaction, the insider now directly owns 35,471,373 shares of the company's stock, valued at approximately $6,177,694,321.68. The trade was a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the sale, the chief financial officer now directly owns 320,564 shares of the company's stock, valued at $55,332,552.04. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,600 shares of company stock worth $34,186,128. 8.50% of the stock is owned by insiders.

Analyst Ratings Changes

APO has been the subject of several analyst reports. Citigroup boosted their target price on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Redburn Partners initiated coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They issued a "buy" rating and a $153.00 price target on the stock. TD Cowen raised their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a "buy" rating in a research report on Monday. Wells Fargo & Company raised their target price on Apollo Global Management from $149.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. Finally, Barclays raised their price target on Apollo Global Management from $174.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Apollo Global Management presently has an average rating of "Moderate Buy" and an average price target of $159.16.

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.