Broadway Wealth Solutions Inc. Takes Position in Apollo Global Management, Inc. (NYSE:APO)

Broadway Wealth Solutions Inc. bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 2,081 shares of the financial services provider’s stock, valued at approximately $344,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. acquired a new position in shares of Apollo Global Management in the fourth quarter worth $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management during the 4th quarter worth $34,000. Byrne Asset Management LLC purchased a new position in Apollo Global Management in the fourth quarter valued at about $37,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at about $39,000. Finally, HM Payson & Co. purchased a new stake in shares of Apollo Global Management during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the sale, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This trade represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

Shares of APO opened at $142.18 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $153.07 and its 200 day simple moving average is $152.75. The company has a market cap of $81.11 billion, a price-to-earnings ratio of 19.45, a PEG 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.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors 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 1.30%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s payout ratio is presently 25.31%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their price objective on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. 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. TD Cowen lifted their price target on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays boosted their price objective on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Morgan Stanley lifted 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.