Belmont Capital LLC Raises Holdings in Apollo Global Management, Inc. (NYSE:APO)

Belmont Capital LLC grew its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 0.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,062 shares of the financial services provider’s stock after acquiring an additional 517 shares during the period. Apollo Global Management comprises approximately 2.4% of Belmont Capital LLC’s investment portfolio, making the stock its 9th biggest holding. Belmont Capital LLC’s holdings in Apollo Global Management were worth $14,709,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of APO. Hopwood Financial Services Inc. purchased a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management in the fourth quarter worth approximately $34,000. Byrne Asset Management LLC purchased a new stake in Apollo Global Management during the fourth quarter worth $37,000. Retirement Wealth Solutions LLC bought a new stake in Apollo Global Management during the 4th quarter valued at $39,000. Finally, HM Payson & Co. bought a new stake in Apollo Global Management during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insiders Place Their Bets

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the sale, the insider now directly owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the business’s stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the transaction, the insider now directly owns 621,754 shares in the company, valued at $69,257,178.06. This trade represents a 4,331.92 % increase in their position. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Stock Up 1.3 %

Shares of APO stock opened at $126.78 on Friday. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The firm has a market capitalization of $72.33 billion, a PE ratio of 17.34, a P/E/G ratio of 1.17 and a beta of 1.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s 50-day simple moving average is $138.66 and its 200-day simple moving average is $153.29.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Analyst Ratings Changes

Several research analysts have recently commented on APO shares. BMO Capital Markets boosted their price target 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. Barclays reduced their target price on shares of Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 7th. TD Cowen lowered their price target on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Citigroup reduced their price objective on shares of Apollo Global Management from $191.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their target price on shares of Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $156.00.

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.