Archon Partners LLC acquired a new position in Apollo Global Management Inc. (NYSE:APO – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 63,000 shares of the financial services provider’s stock, valued at approximately $9,120,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter worth $29,000. Physician Wealth Advisors Inc. grew its stake in shares of Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 96 shares during the last quarter. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Apollo Global Management in the fourth quarter worth $42,000. City Holding Co. grew its stake in shares of Apollo Global Management by 391.9% in the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 243 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Apollo Global Management by 54.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 366 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 129 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.
Apollo Global Management Trading Up 0.2%
APO stock opened at $138.72 on Thursday. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $157.28. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $126.88 and its 200-day moving average is $128.12. The firm has a market cap of $79.98 billion, a P/E ratio of 88.36, a P/E/G ratio of 1.19 and a beta of 1.50.
Apollo Global Management Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s payout ratio is currently 143.31%.
Insider Activity
In other news, insider John P. Zito sold 48,644 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the transaction, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 8.30% of the company’s stock.
Analyst Upgrades and Downgrades
APO has been the subject of a number of research reports. Argus upgraded Apollo Global Management to a “strong-buy” rating in a research report on Thursday, February 19th. Morgan Stanley reduced their price objective on Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Weiss Ratings downgraded Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, UBS Group raised their price objective on Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average price target of $151.23.
View Our Latest Analysis on APO
About Apollo Global Management
Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.
Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.
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