Golden State Wealth Management LLC Purchases New Shares in Apollo Global Management, Inc. (NYSE:APO)

Golden State Wealth Management LLC acquired a new position in Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,671 shares of the financial services provider’s stock, valued at approximately $937,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA purchased a new position in Apollo Global Management in the third quarter valued at about $35,000. Retirement Wealth Solutions LLC purchased a new position in shares of Apollo Global Management during the 4th quarter valued at approximately $39,000. UMB Bank n.a. grew its position in shares of Apollo Global Management by 447.1% during the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock worth $46,000 after buying an additional 228 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Apollo Global Management in the third quarter worth $80,000. Finally, Truvestments Capital LLC acquired a new stake in Apollo Global Management in the third quarter valued at $83,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on APO shares. UBS Group raised shares of Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. Citigroup boosted their price objective on Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Piper Sandler lifted their target price on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Morgan Stanley boosted their target price on shares of Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group raised their price target on shares of Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, November 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 presently has an average rating of “Moderate Buy” and an average price target of $164.00.

Apollo Global Management Stock Performance

Shares of APO stock opened at $164.76 on Friday. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month 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. The firm has a market capitalization of $93.22 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.37 and a beta of 1.63. The business has a 50 day simple moving average of $169.37 and a 200 day simple moving average of $144.39.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.12%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management’s payout ratio is currently 19.33%.

Insider Activity

In other Apollo Global Management news, insider Leon D. Black sold 58,200 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the transaction, the insider now owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. This represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 196,600 shares of company stock worth $34,186,128 over the last three months. Corporate insiders own 8.50% of the company’s stock.

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.