Summit Securities Group LLC Grows Holdings in Apollo Global Management, Inc. (NYSE:APO)

Summit Securities Group LLC increased its stake in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 62.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,400 shares of the financial services provider's stock after purchasing an additional 5,900 shares during the quarter. Apollo Global Management makes up approximately 0.5% of Summit Securities Group LLC's investment portfolio, making the stock its 24th biggest position. Summit Securities Group LLC's holdings in Apollo Global Management were worth $2,543,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of APO. Hopwood Financial Services Inc. bought a new position in shares of Apollo Global Management in the fourth quarter worth about $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management in the 4th quarter worth approximately $34,000. Byrne Asset Management LLC purchased a new stake in Apollo Global Management in the 4th quarter worth approximately $37,000. Retirement Wealth Solutions LLC bought a new stake in Apollo Global Management during the 4th quarter worth approximately $39,000. Finally, HM Payson & Co. purchased a new position in Apollo Global Management during the fourth quarter valued at approximately $45,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

APO has been the topic of several recent analyst reports. Barclays raised their price objective on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Morgan Stanley boosted their price objective on Apollo Global Management from $169.00 to $170.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. Piper Sandler cut their target price on Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods decreased their target price 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. Finally, BMO Capital Markets upped their price target on Apollo Global Management from $157.00 to $186.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.74.

Insider Activity

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the business'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 $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $71,000,000.00. Following the completion of the sale, the insider now directly owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This represents a 1.42 % 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 Trading Down 10.6 %

Shares of NYSE:APO traded down $15.02 during trading on Thursday, reaching $126.50. The company's stock had a trading volume of 5,559,991 shares, compared to its average volume of 3,635,627. The firm's 50 day simple moving average is $150.71 and its two-hundred day simple moving average is $153.85. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The stock has a market capitalization of $72.17 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

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