Pinnacle Financial Partners Inc Boosts Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Pinnacle Financial Partners Inc boosted its holdings in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,283 shares of the financial services provider's stock after purchasing an additional 1,970 shares during the period. Pinnacle Financial Partners Inc's holdings in Apollo Global Management were worth $14,581,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Byrne Asset Management LLC acquired a new position in shares of Apollo Global Management during the fourth quarter worth approximately $37,000. Retirement Wealth Solutions LLC bought a new stake in shares of Apollo Global Management during the fourth quarter worth approximately $39,000. UMB Bank n.a. lifted its holdings in Apollo Global Management by 447.1% in the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider's stock valued at $46,000 after buying an additional 228 shares during the period. Versant Capital Management Inc boosted its stake in Apollo Global Management by 203.6% in the fourth quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider's stock valued at $83,000 after acquiring an additional 336 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new position in shares of Apollo Global Management in the 4th quarter worth $89,000. Institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on APO shares. Morgan Stanley upped their price target on Apollo Global Management from $169.00 to $170.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 11th. Barclays increased their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Keefe, Bruyette & Woods dropped their price target on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 5th. Piper Sandler increased their target price on Apollo Global Management from $188.00 to $202.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company cut their price objective on shares of Apollo Global Management from $191.00 to $187.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average price target of $165.74.

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Insider Buying and Selling at Apollo Global Management

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 completion of the sale, the insider now directly owns 35,104,773 shares of the company's stock, valued at $6,086,114,495.01. The trade was a 0.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the transaction, the chief financial officer now directly owns 320,564 shares in the company, valued at $55,332,552.04. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,600 shares of company stock valued at $34,977,528. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Price Performance

Apollo Global Management stock traded up $2.15 during trading hours on Wednesday, reaching $147.45. 2,781,828 shares of the stock were exchanged, compared to its average volume of 3,363,371. The stock has a 50 day moving average of $164.68 and a two-hundred day moving average of $148.75. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month 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 company has a market cap of $83.43 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.25%. Apollo Global Management's dividend payout ratio (DPR) is currently 25.31%.

Apollo Global Management Company 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.