Apollo Global Management, Inc. (NYSE:APO) Insider Leon D. Black Sells 500,000 Shares

Apollo Global Management, Inc. (NYSE:APO) 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 sale, the insider now directly owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This 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 accessible through the SEC website.

Apollo Global Management Price Performance

NYSE:APO opened at $143.53 on Friday. The firm has a market capitalization of $81.88 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The stock has a fifty day moving average of $154.31 and a 200 day moving average of $151.74. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.29%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is 25.31%.

Institutional Investors Weigh In On Apollo Global Management

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Apollo Global Management by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after buying an additional 3,691,700 shares during the period. Geode Capital Management LLC boosted its stake in Apollo Global Management by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock valued at $1,550,316,000 after buying an additional 3,695,979 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Apollo Global Management by 36.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider’s stock valued at $1,065,615,000 after buying an additional 1,739,807 shares during the period. Northern Trust Corp lifted its stake in Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock worth $723,853,000 after purchasing an additional 1,460,689 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Apollo Global Management by 60.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock worth $479,057,000 after purchasing an additional 1,094,464 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on APO shares. TD Cowen raised their target price on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. BMO Capital Markets raised their target price on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research report 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. Piper Sandler raised 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. Finally, Wells Fargo & Company decreased their target price on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have given 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 a consensus rating of “Moderate Buy” and a consensus target price of $165.21.

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.