Apollo Global Management, Inc. (NYSE:APO) Insider Sells $71,000,000.00 in Stock

Apollo Global Management, Inc. (NYSE:APO) insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction dated 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Apollo Global Management Stock Down 0.9 %

Shares of NYSE:APO opened at $143.53 on Friday. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The company has a market cap of $81.88 billion, a PE ratio of 19.63, a P/E/G ratio of 1.17 and a beta of 1.66. 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 stock’s 50-day moving average is $154.31 and its 200 day moving average is $151.74.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in APO. Fourth Dimension Wealth LLC bought a new position in shares of Apollo Global Management in the 4th quarter worth approximately $25,000. Hopwood Financial Services Inc. bought a new position in shares of Apollo Global Management in the 4th quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Apollo Global Management in the 4th quarter worth approximately $34,000. Byrne Asset Management LLC bought a new position in shares of Apollo Global Management in the 4th quarter worth approximately $37,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Apollo Global Management in the 4th quarter worth approximately $39,000. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APO. Keefe, Bruyette & Woods dropped their price target on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Morgan Stanley boosted their target price on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. TD Cowen boosted their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler boosted their target price on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and an average price target of $165.21.

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.