Navellier & Associates Inc. Buys 1,340 Shares of Apollo Global Management, Inc. (NYSE:APO)

Navellier & Associates Inc. lifted its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 30.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,702 shares of the financial services provider’s stock after acquiring an additional 1,340 shares during the quarter. Navellier & Associates Inc.’s holdings in Apollo Global Management were worth $942,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Partners Group Holding AG increased its holdings in Apollo Global Management by 26.5% in the third quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock worth $96,896,000 after purchasing an additional 162,678 shares in the last quarter. Kestra Private Wealth Services LLC bought a new stake in Apollo Global Management in the fourth quarter worth approximately $3,994,000. Swedbank AB increased its holdings in Apollo Global Management by 50.9% in the third quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock worth $9,735,000 after purchasing an additional 26,300 shares in the last quarter. Fortress Financial Solutions LLC bought a new stake in Apollo Global Management in the fourth quarter worth approximately $685,000. Finally, Leavell Investment Management Inc. increased its holdings in Apollo Global Management by 39.8% in the fourth quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock worth $1,016,000 after purchasing an additional 1,750 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 value of $23,232,944.00. Following 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 201,600 shares of company stock worth $34,977,528 over the last ninety days. 8.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APO. Morgan Stanley lifted their target price on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Citigroup lifted their target price on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. TD Cowen lifted their target price on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. BMO Capital Markets raised their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, Barclays raised their price objective 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $165.74.

Apollo Global Management Stock Down 4.0 %

APO stock opened at $150.45 on Friday. The stock’s fifty day simple moving average is $165.90 and its two-hundred day simple moving average is $147.83. 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. The stock has a market cap of $85.12 billion, a P/E ratio of 20.58, a P/E/G ratio of 1.21 and a beta of 1.63.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be given a $0.4625 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.23%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

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.