Optimize Financial Inc Purchases New Stake in Apollo Global Management, Inc. (NYSE:APO)

Optimize Financial Inc acquired a new position in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,096 shares of the financial services provider's stock, valued at approximately $511,000.

Several other large investors have also recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. grew its stake in shares of Apollo Global Management by 2.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider's stock worth $447,000 after purchasing an additional 71 shares in the last quarter. Tower Wealth Partners Inc. increased its position in Apollo Global Management by 4.4% in the 4th quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider's stock worth $288,000 after purchasing an additional 74 shares during the last quarter. Sfmg LLC raised its stake in shares of Apollo Global Management by 1.1% during the 3rd quarter. Sfmg LLC now owns 7,220 shares of the financial services provider's stock worth $902,000 after purchasing an additional 79 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Apollo Global Management by 0.9% during the 4th quarter. Global Retirement Partners LLC now owns 9,924 shares of the financial services provider's stock valued at $1,639,000 after buying an additional 90 shares during the last quarter. Finally, Westmount Partners LLC grew its stake in shares of Apollo Global Management by 1.8% in the 4th quarter. Westmount Partners LLC now owns 5,091 shares of the financial services provider's stock valued at $841,000 after buying an additional 91 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Apollo Global Management news, 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 transaction of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares in the company, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Lb 2018 Gst Trust bought 607,725 shares of the stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the acquisition, the insider now owns 621,754 shares of the company's stock, valued at $69,257,178.06. The trade was a 4,331.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on APO. Keefe, Bruyette & Woods cut their price objective on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Bank of America lifted their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 4th. Piper Sandler lowered their price target on 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. Raymond James initiated coverage on Apollo Global Management in a report on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 target price on the stock. Finally, Morgan Stanley reduced their price target on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $156.00.

Apollo Global Management Stock Down 1.9 %

Shares of NYSE:APO traded down $2.39 during mid-day trading on Wednesday, reaching $125.45. 2,264,192 shares of the stock were exchanged, compared to its average volume of 3,783,185. The company has a market cap of $71.57 billion, a P/E ratio of 17.16, a P/E/G ratio of 1.17 and a beta of 1.66. The stock's 50 day simple moving average is $139.37 and its 200-day simple moving average is $153.27. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.47%. Apollo Global Management's dividend payout ratio (DPR) is currently 25.31%.

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.