Virtu Financial LLC Invests $1.49 Million in Apollo Global Management, Inc. (NYSE:APO)

Virtu Financial LLC bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,028 shares of the financial services provider's stock, valued at approximately $1,491,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new stake in shares of Apollo Global Management during the fourth quarter worth $33,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Apollo Global Management during the 4th quarter worth $34,000. Byrne Asset Management LLC purchased a new position in shares of Apollo Global Management during the 4th quarter worth $37,000. Retirement Wealth Solutions LLC acquired a new position in shares of Apollo Global Management during the 4th quarter valued at about $39,000. Finally, HM Payson & Co. purchased a new stake in shares of Apollo Global Management in the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

APO has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of 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 lifted their target price on Apollo Global Management from $174.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. TD Cowen increased their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a "buy" rating in a report on Monday, December 9th. BMO Capital Markets boosted their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company reduced their price objective on Apollo Global Management from $187.00 to $177.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.21.

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Insider Buying and Selling at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the transaction, the insider now directly owns 34,604,773 shares of the company's stock, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $791,400.00. Following the completion of the sale, 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. 8.50% of the stock is owned by corporate insiders.

Apollo Global Management Stock Performance

Shares of NYSE APO traded down $2.46 during mid-day trading on Thursday, hitting $142.18. 2,226,366 shares of the company were exchanged, compared to its average volume of 3,380,757. The stock has a 50 day simple moving average of $153.54 and a 200-day simple moving average of $152.82. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49. 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 market cap of $81.11 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management's payout ratio is 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.