Fortress Financial Solutions LLC Buys New Stake in Apollo Global Management, Inc. (NYSE:APO)

Fortress Financial Solutions LLC purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,145 shares of the financial services provider’s stock, valued at approximately $685,000. Apollo Global Management makes up about 1.0% of Fortress Financial Solutions LLC’s investment portfolio, making the stock its 23rd largest holding.

Several other hedge funds also recently added to or reduced their stakes in the stock. Byrne Asset Management LLC acquired a new position in shares of Apollo Global Management during the fourth quarter worth $37,000. Retirement Wealth Solutions LLC acquired a new position in Apollo Global Management in the 4th quarter worth $39,000. UMB Bank n.a. boosted its position in Apollo Global Management by 447.1% in the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after buying an additional 228 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Apollo Global Management during the third quarter valued at about $80,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Apollo Global Management during the third quarter worth about $83,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 58,200 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the completion of the transaction, the insider now owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This represents a 0.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the sale, the chief financial officer now owns 320,564 shares in the company, valued at $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 196,600 shares of company stock worth $34,186,128 in the last ninety days. 8.50% of the stock is owned by insiders.

Apollo Global Management Trading Down 2.5 %

Shares of NYSE APO opened at $158.11 on Wednesday. The company has a market cap of $89.46 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 1.28 and a beta of 1.63. The stock’s 50 day simple moving average is $168.63 and its 200 day simple moving average is $145.50. The company has a current ratio of 1.44, a quick 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 company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.4625 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.17%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. BMO Capital Markets increased their price target on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. TD Cowen increased 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. Citigroup lifted their price target on shares of Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.74.

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.