Westpac Banking Corp Buys 13,060 Shares of Apollo Global Management, Inc. (NYSE:APO)

Westpac Banking Corp raised its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 604.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,219 shares of the financial services provider’s stock after acquiring an additional 13,060 shares during the period. Westpac Banking Corp’s holdings in Apollo Global Management were worth $2,514,000 at the end of the most recent quarter.

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 in the 4th quarter valued at $33,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Apollo Global Management in the fourth quarter valued at about $34,000. Byrne Asset Management LLC acquired a new position in shares of Apollo Global Management in the fourth quarter valued at about $37,000. Retirement Wealth Solutions LLC bought a new position in Apollo Global Management during the fourth quarter worth about $39,000. Finally, HM Payson & Co. acquired a new stake in Apollo Global Management in the 4th quarter worth about $45,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Apollo Global Management stock opened at $122.65 on Friday. The business has a 50 day moving average of $149.77 and a 200-day moving average of $153.63. The company has a market capitalization of $69.97 billion, a P/E ratio of 16.78, a P/E/G ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Cuts Dividend

The firm 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. This represents a $1.85 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s payout ratio is currently 25.31%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated 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 directly owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leon D. Black sold 500,000 shares of the stock in a transaction dated 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. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on APO. Morgan Stanley increased their target price on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Barclays raised their price objective on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Wells Fargo & Company cut their target price on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Piper Sandler decreased their price target on Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, TD Cowen increased their price objective on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $164.74.

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.