Lb 2018 Gst Trust Buys 607,725 Shares of Apollo Global Management, Inc. (NYSE:APO) Stock

Apollo Global Management, Inc. (NYSE:APO - Get Free Report) insider Lb 2018 Gst Trust bought 607,725 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the acquisition, the insider now owns 621,754 shares of the company's stock, valued at $69,257,178.06. This trade represents a 4,331.92 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Apollo Global Management Price Performance

Shares of APO stock traded up $2.04 during trading hours on Friday, hitting $125.97. 6,257,035 shares of the company's stock were exchanged, compared to its average volume of 3,777,021. The stock's 50-day moving average is $141.67 and its 200-day moving average is $153.45. 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 52 week low of $95.11 and a 52 week high of $189.49. The stock has a market cap of $71.87 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a $0.4625 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.47%. Apollo Global Management's dividend payout ratio is currently 25.31%.

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Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Ellevest Inc. lifted its position in Apollo Global Management by 1.5% in the 4th quarter. Ellevest Inc. now owns 4,451 shares of the financial services provider's stock valued at $735,000 after acquiring an additional 67 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Apollo Global Management by 2.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider's stock worth $447,000 after buying an additional 71 shares during the last quarter. Vivaldi Capital Management LP grew its holdings in shares of Apollo Global Management by 2.1% in the 4th quarter. Vivaldi Capital Management LP now owns 3,382 shares of the financial services provider's stock valued at $566,000 after acquiring an additional 71 shares in the last quarter. Tower Wealth Partners Inc. increased its position in shares of Apollo Global Management by 4.4% in the fourth quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider's stock valued at $288,000 after acquiring an additional 74 shares during the last quarter. Finally, Sfmg LLC raised its holdings in Apollo Global Management by 1.1% during the third quarter. Sfmg LLC now owns 7,220 shares of the financial services provider's stock worth $902,000 after acquiring an additional 79 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on APO. Piper Sandler dropped their target price on shares of Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their target price on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company reduced their price objective on Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. 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. Finally, Raymond James assumed coverage on Apollo Global Management in a report on Thursday. They issued a "strong-buy" rating and a $173.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $157.95.

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.