Broadway Wealth Solutions Inc. Purchases Shares of 2,081 Apollo Global Management, Inc. (NYSE:APO)

Broadway Wealth Solutions Inc. bought a new stake in Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,081 shares of the financial services provider’s stock, valued at approximately $344,000.

A number of other institutional investors also recently modified their holdings of the company. Hopwood Financial Services Inc. purchased a new stake in shares of Apollo Global Management during the 4th quarter valued at $33,000. Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management in the 4th quarter worth about $34,000. Byrne Asset Management LLC purchased a new stake in Apollo Global Management in the fourth quarter valued at approximately $37,000. Retirement Wealth Solutions LLC bought a new position in Apollo Global Management in the fourth quarter valued at $39,000. Finally, HM Payson & Co. purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at $45,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 5,000 shares of the business’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 completion of the sale, the chief financial officer now directly owns 377,164 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the transaction, the insider now owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Stock Down 1.7 %

Shares of APO opened at $142.18 on Friday. The company’s 50-day simple moving average is $153.07 and its 200-day simple moving average is $152.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The stock has a market capitalization of $81.11 billion, a PE ratio of 19.45, a P/E/G ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.30%. Apollo Global Management’s payout ratio is 25.31%.

Analysts Set New Price Targets

A number of brokerages have issued reports on APO. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. TD Cowen lifted their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. BMO Capital Markets lifted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report 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 for the company in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company reduced their price target 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.21.

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.