Money Concepts Capital Corp Makes New $868,000 Investment in Apollo Global Management, Inc. (NYSE:APO)

Money Concepts Capital Corp bought a new stake in Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, Holdings Channel reports. The institutional investor bought 5,255 shares of the financial services provider’s stock, valued at approximately $868,000.

Several other hedge funds also recently modified their holdings of APO. Geode Capital Management LLC raised its position in Apollo Global Management by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after buying an additional 254,268 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after purchasing an additional 383,557 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Apollo Global Management by 0.4% during the third quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock valued at $167,298,000 after purchasing an additional 4,892 shares in the last quarter. Swiss National Bank boosted its stake in shares of Apollo Global Management by 0.4% in the 3rd quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock worth $147,670,000 after buying an additional 4,600 shares during the last quarter. Finally, Fort Pitt Capital Group LLC grew its position in Apollo Global Management by 10.5% during the third quarter. Fort Pitt Capital Group LLC now owns 1,100,686 shares of the financial services provider’s stock valued at $137,487,000 after buying an additional 104,668 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the sale, the chief financial officer now owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the transaction, the insider now owns 35,471,373 shares in the company, valued at approximately $6,177,694,321.68. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 196,600 shares of company stock valued at $34,186,128 over the last 90 days. 8.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Evercore ISI upped their price objective on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Citigroup lifted their price objective on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company dropped 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 report on Wednesday. Morgan Stanley lifted their target price on shares of Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, TD Cowen upped their price target on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average target price of $164.00.

Apollo Global Management Price Performance

APO stock opened at $165.84 on Thursday. The firm has a 50 day simple moving average of $169.55 and a two-hundred day simple moving average of $144.25. The stock has a market cap of $93.84 billion, a PE ratio of 17.33, a P/E/G ratio of 1.37 and a beta of 1.63. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be given a $0.4625 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.12%. Apollo Global Management’s dividend payout ratio (DPR) is presently 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.