LPL Financial LLC Raises Holdings in Apollo Global Management, Inc. (NYSE:APO)

LPL Financial LLC lifted its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 29.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 276,834 shares of the financial services provider’s stock after buying an additional 63,742 shares during the quarter. LPL Financial LLC’s holdings in Apollo Global Management were worth $45,722,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mosley Wealth Management acquired a new position in Apollo Global Management during the 4th quarter worth approximately $754,000. KLP Kapitalforvaltning AS acquired a new position in shares of Apollo Global Management during the fourth quarter worth $22,097,000. Umpqua Bank increased its holdings in Apollo Global Management by 42.8% in the fourth quarter. Umpqua Bank now owns 2,427 shares of the financial services provider’s stock valued at $387,000 after buying an additional 728 shares during the last quarter. Mizuho Securities USA LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at $6,997,000. Finally, Virtu Financial LLC purchased a new stake in Apollo Global Management during the 4th quarter worth about $1,491,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

NYSE:APO opened at $142.18 on Friday. 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 cap of $81.11 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The firm’s fifty day moving average price is $153.07 and its 200 day moving average price is $152.75. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49.

Apollo Global Management Cuts Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.30%. Apollo Global Management’s dividend payout ratio (DPR) is 25.31%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on APO shares. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Barclays raised their price objective on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. TD Cowen upped their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. BMO Capital Markets lifted their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company decreased their price objective on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $165.21.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the sale, the insider now directly owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This trade represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

About Apollo Global Management

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.