SVB Wealth LLC Invests $916,000 in Apollo Global Management, Inc. (NYSE:APO)

SVB Wealth LLC purchased a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) during the 4th quarter, Holdings Channel reports. The fund purchased 5,546 shares of the financial services provider’s stock, valued at approximately $916,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Byrne Asset Management LLC bought a new position in Apollo Global Management during the fourth quarter valued at $37,000. Retirement Wealth Solutions LLC purchased a new position in shares of Apollo Global Management during the 4th quarter worth about $39,000. UMB Bank n.a. grew its holdings in Apollo Global Management by 447.1% during the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 228 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Apollo Global Management in the 3rd quarter worth about $80,000. Finally, Truvestments Capital LLC bought a new stake in Apollo Global Management in the third quarter worth about $83,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Down 3.2 %

Shares of NYSE APO opened at $144.55 on Tuesday. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49. The business has a fifty day moving average price of $162.85 and a 200 day moving average price of $149.90. The stock has a market capitalization of $82.46 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63. 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 company also recently declared 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 1.28%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Insider Activity

In related news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This represents 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 58,200 shares of Apollo Global Management stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the completion of the transaction, the insider now directly owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on APO shares. Morgan Stanley increased their price target on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. BMO Capital Markets increased their target price 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. Keefe, Bruyette & Woods decreased their target price on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. The Goldman Sachs Group upped their price target on shares of Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Citigroup lifted their price objective on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and an average price target of $165.74.

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.