Summit Investment Advisors Inc. Acquires Shares of 4,355 Apollo Global Management, Inc. (NYSE:APO)

Summit Investment Advisors Inc. acquired a new stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,355 shares of the financial services provider's stock, valued at approximately $719,000.

Several other institutional investors also recently modified their holdings of APO. Kestra Private Wealth Services LLC purchased a new position in Apollo Global Management in the fourth quarter worth about $3,994,000. Fortress Financial Solutions LLC purchased a new position in shares of Apollo Global Management in the fourth quarter worth approximately $685,000. Leavell Investment Management Inc. grew its position in Apollo Global Management by 39.8% during the fourth quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider's stock valued at $1,016,000 after buying an additional 1,750 shares during the period. Amundi raised its position in Apollo Global Management by 13.2% in the fourth quarter. Amundi now owns 801,260 shares of the financial services provider's stock worth $129,788,000 after acquiring an additional 93,451 shares during the period. Finally, State of Michigan Retirement System purchased a new position in shares of Apollo Global Management during the 4th quarter worth $20,034,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock traded up $6.82 during trading hours on Wednesday, reaching $130.53. The company's stock had a trading volume of 1,281,396 shares, compared to its average volume of 3,795,488. The firm has a 50 day moving average price of $136.59 and a 200-day moving average price of $153.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market cap of $74.46 billion, a P/E ratio of 17.86, a P/E/G ratio of 1.17 and a beta of 1.66. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given 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 yield of 1.42%. Apollo Global Management's dividend payout ratio (DPR) is presently 25.31%.

Analyst Upgrades and Downgrades

APO has been the subject of several analyst reports. Piper Sandler reduced their price objective on Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their price objective 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. Barclays lowered 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. Wells Fargo & Company reduced their price objective on shares of Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, TD Cowen cut 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average target price of $156.00.

Insider Activity

In other news, insider Leon D. Black sold 500,000 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the purchase, the insider now owns 621,754 shares in the company, valued at $69,257,178.06. This trade represents a 4,331.92 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 8.50% of the company's stock.

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.