Summit Investment Advisors Inc. Takes Position in Apollo Global Management, Inc. (NYSE:APO)

Summit Investment Advisors Inc. purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) in the 4th quarter, HoldingsChannel reports. The fund purchased 4,355 shares of the financial services provider’s stock, valued at approximately $719,000.

Several other institutional investors have also recently bought and sold shares of the business. SRS Capital Advisors Inc. raised its holdings in shares of Apollo Global Management by 2.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider’s stock worth $447,000 after acquiring an additional 71 shares during the last quarter. Tower Wealth Partners Inc. lifted its holdings in shares of Apollo Global Management by 4.4% in the fourth quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 74 shares in the last quarter. Sfmg LLC boosted its position in shares of Apollo Global Management by 1.1% during the third quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock valued at $902,000 after buying an additional 79 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Apollo Global Management by 0.9% during the fourth quarter. Global Retirement Partners LLC now owns 9,924 shares of the financial services provider’s stock worth $1,639,000 after buying an additional 90 shares in the last quarter. Finally, Westmount Partners LLC raised its position in Apollo Global Management by 1.8% in the 4th quarter. Westmount Partners LLC now owns 5,091 shares of the financial services provider’s stock valued at $841,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. TD Cowen reduced their price objective on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Raymond James assumed coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They set a “strong-buy” rating and a $173.00 target price on the stock. Barclays reduced their target price on Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Finally, Piper Sandler dropped their price target on Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus target price of $156.00.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $126.78 on Friday. 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, Inc. has a one year low of $95.11 and a one year high of $189.49. The firm has a market capitalization of $72.33 billion, a P/E ratio of 17.34, a PEG ratio of 1.17 and a beta of 1.66. The business has a fifty day moving average price of $138.66 and a 200-day moving average price of $153.29.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares of the company’s stock, valued at $69,257,178.06. This trade represents a 4,331.92 % increase in their position. The disclosure for this purchase can be found here. 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.