Wealthfront Advisers LLC Purchases 90,357 Shares of Apollo Global Management, Inc. (NYSE:APO)

Wealthfront Advisers LLC grew its position in Apollo Global Management, Inc. (NYSE:APO) by 355.1% during the 4th quarter, HoldingsChannel reports. The firm owned 115,806 shares of the financial services provider’s stock after purchasing an additional 90,357 shares during the quarter. Wealthfront Advisers LLC’s holdings in Apollo Global Management were worth $19,127,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of APO. Partners Group Holding AG increased its holdings in shares of Apollo Global Management by 26.5% in the third quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock valued at $96,896,000 after purchasing an additional 162,678 shares during the last quarter. Kestra Private Wealth Services LLC bought a new stake in shares of Apollo Global Management in the fourth quarter worth $3,994,000. Swedbank AB boosted its position in shares of Apollo Global Management by 50.9% during the 3rd quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock valued at $9,735,000 after purchasing an additional 26,300 shares in the last quarter. Fortress Financial Solutions LLC acquired a new position in Apollo Global Management during the 4th quarter worth approximately $685,000. Finally, Leavell Investment Management Inc. increased its position in shares of Apollo Global Management by 39.8% during the fourth quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock worth $1,016,000 after acquiring an additional 1,750 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares of the company’s stock, valued at approximately $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 accessible through this link. 8.50% of the stock is owned by insiders.

Apollo Global Management Stock Performance

Shares of NYSE:APO opened at $130.55 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The firm has a market cap of $74.48 billion, a PE ratio of 17.86, a PEG ratio of 1.17 and a beta of 1.66. The company’s 50 day moving average price is $158.38 and its two-hundred day moving average price is $150.89.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.42%. Apollo Global Management’s payout ratio is currently 25.31%.

Wall Street Analysts Forecast Growth

APO has been the subject of several research reports. TD Cowen increased their price objective on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods dropped their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. The Goldman Sachs Group increased their price objective on Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Barclays upped their price target on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company decreased their target price on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $165.74.

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.