Quarry LP Acquires 1,017 Shares of Apollo Global Management, Inc. (NYSE:APO)

Quarry LP increased its position in Apollo Global Management, Inc. (NYSE:APO) by 101,700.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,018 shares of the financial services provider’s stock after acquiring an additional 1,017 shares during the quarter. Quarry LP’s holdings in Apollo Global Management were worth $168,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hopwood Financial Services Inc. bought a new position in Apollo Global Management in the 4th quarter worth $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Apollo Global Management during the fourth quarter valued at about $34,000. Byrne Asset Management LLC acquired a new position in shares of Apollo Global Management during the fourth quarter valued at about $37,000. Retirement Wealth Solutions LLC acquired a new position in shares of Apollo Global Management during the fourth quarter valued at about $39,000. Finally, HM Payson & Co. acquired a new position in shares of Apollo Global Management during the fourth quarter valued at about $45,000. Institutional investors own 77.06% of the company’s stock.

Insider Activity

In other news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the transaction, the chief financial officer now directly owns 377,164 shares in the company, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the insider now owns 34,604,773 shares in the company, valued at $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

Apollo Global Management Price Performance

APO opened at $136.36 on Tuesday. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. 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 company’s 50 day simple moving average is $134.23 and its 200-day simple moving average is $153.21. The stock has a market capitalization of $77.79 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.36%. Apollo Global Management’s dividend payout ratio (DPR) is currently 25.31%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Piper Sandler cut their price objective on shares of Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Raymond James assumed coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 price objective for the company. Wells Fargo & Company cut their price objective 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. Bank of America increased their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 4th. Finally, Barclays dropped their price target on shares of Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.