Money Concepts Capital Corp Takes $868,000 Position in Apollo Global Management, Inc. (NYSE:APO)

Money Concepts Capital Corp acquired a new position in shares of Apollo Global Management, Inc. (NYSE:APO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,255 shares of the financial services provider’s stock, valued at approximately $868,000.

Several other large investors have also bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of Apollo Global Management by 4.7% in the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after acquiring an additional 254,268 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Apollo Global Management by 27.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after purchasing an additional 383,557 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Apollo Global Management by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock valued at $167,298,000 after purchasing an additional 4,892 shares during the last quarter. Swiss National Bank boosted its position in Apollo Global Management by 0.4% in the third quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock valued at $147,670,000 after buying an additional 4,600 shares in the last quarter. Finally, Fort Pitt Capital Group LLC grew its stake in shares of Apollo Global Management by 10.5% during the third quarter. Fort Pitt Capital Group LLC now owns 1,100,686 shares of the financial services provider’s stock worth $137,487,000 after buying an additional 104,668 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APO has been the subject of a number of research reports. 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 research note on Thursday, December 19th. Keefe, Bruyette & Woods cut their price target on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday. TD Cowen boosted their price target on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. UBS Group upgraded shares of Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. Finally, Morgan Stanley boosted their target price on shares of Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.00.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $165.84 on Thursday. The stock has a market capitalization of $93.84 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.37 and a beta of 1.63. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s 50 day moving average price is $169.55 and its two-hundred day moving average price is $144.25.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Insider Buying and Selling at Apollo Global Management

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

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.