Edgewood Management LLC Has $8.75 Million Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Edgewood Management LLC lifted its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 231.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,000 shares of the financial services provider’s stock after purchasing an additional 37,000 shares during the period. Edgewood Management LLC’s holdings in Apollo Global Management were worth $8,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in APO. Hopwood Financial Services Inc. bought a new stake in Apollo Global Management during the 4th quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Apollo Global Management during the fourth quarter worth $34,000. Byrne Asset Management LLC bought a new stake in shares of Apollo Global Management in the fourth quarter worth $37,000. Retirement Wealth Solutions LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at $39,000. Finally, HM Payson & Co. bought a new position in Apollo Global Management during the 4th quarter worth $45,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the completion of the sale, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on APO shares. Keefe, Bruyette & Woods reduced their price target on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company reduced their target price on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. BMO Capital Markets raised their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Morgan Stanley upped their price objective on shares of 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. Finally, Piper Sandler decreased 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $168.26.

Apollo Global Management Price Performance

Shares of APO opened at $108.22 on Friday. The stock has a market cap of $61.74 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.17 and a beta of 1.66. The business’s fifty day moving average is $148.49 and its 200 day moving average is $153.82. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 25.31%.

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.