Valley Wealth Managers Inc. Buys Shares of 3,681 Apollo Global Management, Inc. (NYSE:APO)

Valley Wealth Managers Inc. acquired a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,681 shares of the financial services provider’s stock, valued at approximately $608,000.

A number of other hedge funds have also recently modified their holdings of APO. Byrne Asset Management LLC bought a new stake in shares of Apollo Global Management during the 4th quarter valued at $37,000. Retirement Wealth Solutions LLC bought a new stake in shares of Apollo Global Management during the 4th quarter valued at $39,000. UMB Bank n.a. grew its position in shares of 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 acquiring an additional 228 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Apollo Global Management during the 3rd quarter valued at $80,000. Finally, Truvestments Capital LLC bought a new stake in shares of Apollo Global Management during the 3rd quarter valued at $83,000. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Down 0.5 %

Shares of NYSE APO opened at $161.97 on Wednesday. The firm’s 50-day moving average price is $167.19 and its 200-day moving average price is $147.01. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $91.65 billion, a price-to-earnings ratio of 22.16, a P/E/G ratio of 1.28 and a beta of 1.63. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is 25.31%.

Insider Activity

In related news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction dated 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 directly owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This represents a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Leon D. Black sold 133,400 shares of the stock in a transaction dated 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 sale, the insider now directly owns 35,471,373 shares in the company, valued at $6,177,694,321.68. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,600 shares of company stock worth $34,977,528. 8.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

APO has been the subject of a number of recent research reports. TD Cowen boosted their price objective on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 9th. BMO Capital Markets upped their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Barclays upped their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Wells Fargo & Company dropped their target price on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Citigroup upped their target price on shares of Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $165.74.

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.