Fifth Third Wealth Advisors LLC Acquires New Position in Apollo Global Management, Inc. (NYSE:APO)

Fifth Third Wealth Advisors LLC purchased a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,040 shares of the financial services provider’s stock, valued at approximately $667,000.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Apollo Global Management by 4.7% during the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after acquiring an additional 254,268 shares in the last quarter. Legal & General Group Plc grew its position in shares of Apollo Global Management by 3.0% in the second quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock valued at $517,527,000 after purchasing an additional 126,859 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 during the period. Janus Henderson Group PLC boosted its stake in Apollo Global Management by 0.4% during the third quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock worth $167,298,000 after buying an additional 4,892 shares during the period. Finally, 1832 Asset Management L.P. lifted its stake in Apollo Global Management by 2.9% in the second quarter. 1832 Asset Management L.P. now owns 1,294,530 shares of the financial services provider’s stock worth $152,845,000 after acquiring an additional 37,070 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the transaction, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $174.16, for a total value of $23,232,944.00. Following the completion of the sale, the insider now directly owns 35,471,373 shares in the company, valued at $6,177,694,321.68. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,600 shares of company stock worth $34,186,128. 8.50% of the stock is owned by insiders.

Apollo Global Management Trading Up 0.6 %

Shares of APO stock opened at $165.80 on Friday. The company has a market capitalization of $93.81 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 1.20 and a beta of 1.63. 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 business’s 50 day moving average is $168.97 and its two-hundred day moving average is $139.17. Apollo Global Management, Inc. has a twelve month low of $94.34 and a twelve month high of $189.49.

Apollo Global Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were paid a $0.463 dividend. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Monday, November 18th. Apollo Global Management’s payout ratio is currently 19.33%.

Analyst Ratings Changes

Several equities analysts recently commented on APO shares. Evercore ISI increased their target price on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. TD Cowen raised their price objective 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. JPMorgan Chase & Co. upped their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Piper Sandler lifted their price target on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.32.

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.