Insider Buying: Apollo Global Management, Inc. (NYSE:APO) Insider Purchases 607,725 Shares of Stock

Apollo Global Management, Inc. (NYSE:APO) insider Lb 2018 Gst Trust bought 607,725 shares of the firm’s stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the transaction, the insider now directly owns 621,754 shares of the company’s stock, valued at approximately $69,257,178.06. This trade represents a 4,331.92 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Apollo Global Management Stock Down 2.1 %

APO stock traded down $2.31 during mid-day trading on Tuesday, reaching $110.06. The company had a trading volume of 7,459,622 shares, compared to its average volume of 3,670,809. The company has a market capitalization of $62.78 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The stock has a 50 day simple moving average of $147.39 and a two-hundred day simple moving average of $154.01. 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 business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. TD Cowen lifted their price target on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. Barclays dropped their target price on Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday. Bank of America lifted their price target on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Finally, Wells Fargo & Company decreased their target price on shares of Apollo Global Management from $177.00 to $139.00 and set an “overweight” rating for the company in a research report on Tuesday. 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 company. According to MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $161.68.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APO. Fourth Dimension Wealth LLC acquired a new position in Apollo Global Management during the fourth quarter valued at approximately $25,000. Hopwood Financial Services Inc. bought a new stake in shares of Apollo Global Management in the 4th quarter valued at $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Apollo Global Management during the 4th quarter worth about $34,000. Byrne Asset Management LLC acquired a new stake in Apollo Global Management during the fourth quarter worth approximately $37,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth approximately $39,000. 77.06% of the stock is owned by institutional investors and hedge funds.

About Apollo Global Management

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.