Corebridge Financial Inc. Takes Position in Apollo Global Management, Inc. (NYSE:APO)

Corebridge Financial Inc. bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 110,177 shares of the financial services provider’s stock, valued at approximately $18,197,000.

Other hedge funds have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new stake in shares of Apollo Global Management in the 4th quarter valued at $33,000. Kohmann Bosshard Financial Services LLC bought a new stake in Apollo Global Management in the fourth quarter valued at $34,000. Byrne Asset Management LLC bought a new stake in Apollo Global Management in the fourth quarter valued at $37,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at about $39,000. Finally, HM Payson & Co. bought a new stake in Apollo Global Management in the 4th quarter valued at about $45,000. 77.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apollo Global Management

In other news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value 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 $4,913,877,766. This trade represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares in the company, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

APO has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Keefe, Bruyette & Woods reduced their price target on shares of 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. Piper Sandler raised their price objective on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. TD Cowen upped 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. Finally, Barclays lifted their price target on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $165.21.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $148.59 on Tuesday. The firm has a market cap of $84.77 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The stock has a fifty day simple moving average of $154.19 and a two-hundred day simple moving average of $152.60. 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 1-year low of $95.11 and a 1-year high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 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.