L & S Advisors Inc Boosts Stake in Apollo Global Management, Inc. (NYSE:APO)

L & S Advisors Inc lifted its position in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 138.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,601 shares of the financial services provider's stock after purchasing an additional 36,883 shares during the quarter. Apollo Global Management accounts for about 1.2% of L & S Advisors Inc's holdings, making the stock its 17th largest holding. L & S Advisors Inc's holdings in Apollo Global Management were worth $10,504,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of APO. Allianz SE bought a new stake in Apollo Global Management in the fourth quarter valued at approximately $200,000. Allstate Corp purchased a new position in Apollo Global Management during the 4th quarter valued at $1,930,000. Brown Brothers Harriman & Co. raised its holdings in Apollo Global Management by 13.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,826 shares of the financial services provider's stock worth $467,000 after purchasing an additional 333 shares in the last quarter. DnB Asset Management AS boosted its stake in shares of Apollo Global Management by 28.0% during the 4th quarter. DnB Asset Management AS now owns 208,439 shares of the financial services provider's stock valued at $34,426,000 after purchasing an additional 45,659 shares in the last quarter. Finally, Orion Portfolio Solutions LLC increased its position in shares of Apollo Global Management by 3.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 13,276 shares of the financial services provider's stock valued at $2,193,000 after buying an additional 485 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Stock Performance

Shares of NYSE:APO traded up $2.92 during midday trading on Wednesday, reaching $141.29. 1,069,112 shares of the company's stock traded hands, compared to its average volume of 3,584,278. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The company has a market cap of $80.60 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.17 and a beta of 1.66. The stock has a 50 day moving average of $151.25 and a 200 day moving average of $153.93.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management's dividend payout ratio is currently 25.31%.

Analyst Ratings Changes

Several analysts have commented on APO shares. Piper Sandler lowered 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 report on Wednesday. Wells Fargo & Company dropped their price target on Apollo Global Management from $187.00 to $177.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. TD Cowen increased their price objective on Apollo Global Management from $178.00 to $230.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Keefe, Bruyette & Woods dropped their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Finally, Morgan Stanley increased their price target on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $164.74.

Insider Transactions at Apollo Global Management

In other news, insider Leon D. Black sold 500,000 shares of the firm's stock in a transaction on 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 transaction, the insider now directly owns 34,604,773 shares in the company, valued at $4,913,877,766. This trade represents a 1.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Martin Kelly sold 5,000 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares of the company's stock, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.50% of the company's stock.

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.