King Wealth Management Group Purchases Shares of 6,100 Apollo Global Management Inc. $APO

King Wealth Management Group acquired a new stake in Apollo Global Management Inc. (NYSE:APO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,100 shares of the financial services provider’s stock, valued at approximately $865,000.

A number of other large investors have also recently bought and sold shares of the company. Allworth Financial LP raised its position in Apollo Global Management by 33.1% during the 1st quarter. Allworth Financial LP now owns 1,223 shares of the financial services provider’s stock worth $163,000 after buying an additional 304 shares during the last quarter. CWM LLC increased its stake in shares of Apollo Global Management by 9.0% in the first quarter. CWM LLC now owns 7,916 shares of the financial services provider’s stock worth $1,084,000 after acquiring an additional 654 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of Apollo Global Management by 11.2% during the first quarter. SBI Securities Co. Ltd. now owns 3,825 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 385 shares during the last quarter. Dakota Wealth Management acquired a new position in Apollo Global Management during the first quarter valued at $297,000. Finally, Wealthfront Advisers LLC lifted its position in Apollo Global Management by 42.8% during the first quarter. Wealthfront Advisers LLC now owns 47,402 shares of the financial services provider’s stock valued at $6,491,000 after purchasing an additional 14,197 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on APO shares. Evercore ISI lifted their price objective on Apollo Global Management from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Citigroup lowered their price objective on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Barclays raised their price objective on shares of Apollo Global Management from $147.00 to $158.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Apollo Global Management from $162.00 to $173.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $128.74 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. The company’s fifty day moving average price is $130.68 and its 200 day moving average price is $136.29. The stock has a market capitalization of $73.64 billion, a P/E ratio of 24.06, a P/E/G ratio of 1.42 and a beta of 1.63. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $189.49.

Apollo Global Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.04 dividend on an annualized basis and a yield of 1.6%. Apollo Global Management’s dividend payout ratio (DPR) is currently 29.82%.

Insider Activity at Apollo Global Management

In other news, insider Leon D. Black sold 915,000 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the transaction, the insider directly owned 4,526,000 shares of the company’s stock, valued at approximately $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 8.20% of the stock is owned by company insiders.

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.