Sagespring Wealth Partners LLC Buys New Position in Apollo Global Management, Inc. (NYSE:APO)

Sagespring Wealth Partners LLC acquired a new position in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,068 shares of the financial services provider's stock, valued at approximately $342,000.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Apollo Global Management by 64.6% during the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock valued at $1,550,316,000 after purchasing an additional 3,695,979 shares during the period. Vanguard Group Inc. raised its stake in Apollo Global Management by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock valued at $7,454,560,000 after purchasing an additional 3,691,700 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Apollo Global Management by 245.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock worth $438,196,000 after buying an additional 1,886,146 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Apollo Global Management by 200,666.6% during the 4th quarter. Bessemer Group Inc. now owns 1,226,684 shares of the financial services provider's stock valued at $202,598,000 after purchasing an additional 1,226,073 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Apollo Global Management by 60.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider's stock worth $479,057,000 after buying an additional 1,094,464 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on APO. Raymond James started coverage on shares of 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. Wells Fargo & Company dropped their price objective on Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley lowered their price target on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research report on Monday. Keefe, Bruyette & Woods reduced their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Finally, TD Cowen decreased their price target on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $156.00.

Insider Activity

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the sale, the insider now directly owns 34,604,773 shares of the company's stock, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Martin Kelly sold 5,000 shares of the 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 completion of the transaction, the chief financial officer now directly owns 377,164 shares in the company, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company's stock.

Apollo Global Management Price Performance

APO traded up $1.57 during trading on Friday, reaching $126.78. The company's stock had a trading volume of 2,638,630 shares, compared to its average volume of 3,793,029. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $138.04 and a two-hundred day simple moving average of $153.25. The company has a market cap of $72.33 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.46%. Apollo Global Management's dividend payout ratio is currently 25.31%.

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.