Core Wealth Partners LLC Takes Position in Apollo Global Management, Inc. (NYSE:APO)

Core Wealth Partners LLC acquired a new stake in Apollo Global Management, Inc. (NYSE:APO) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,357 shares of the financial services provider’s stock, valued at approximately $224,000.

Several other hedge funds also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Apollo Global Management by 7.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 193,931 shares of the financial services provider’s stock worth $32,030,000 after acquiring an additional 13,075 shares in the last quarter. Keystone Investors PTE Ltd. purchased a new stake in shares of Apollo Global Management in the fourth quarter valued at about $36,113,000. Zions Bancorporation N.A. boosted its stake in shares of Apollo Global Management by 66.1% in the 4th quarter. Zions Bancorporation N.A. now owns 8,860 shares of the financial services provider’s stock worth $1,463,000 after buying an additional 3,525 shares during the last quarter. TD Asset Management Inc. increased its position in shares of Apollo Global Management by 13.6% during the 4th quarter. TD Asset Management Inc. now owns 2,473,237 shares of the financial services provider’s stock valued at $408,480,000 after purchasing an additional 296,951 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Apollo Global Management in the fourth quarter valued at about $270,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In other news, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, the insider now directly owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This trade represents 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on APO. Barclays raised their price target on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods cut their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Piper Sandler raised their target price on shares of 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 lowered their target price on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average price target of $165.21.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $147.67 on Wednesday. The business’s 50 day simple moving average is $153.95 and its 200-day simple moving average is $152.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $84.24 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is presently 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.