Untitled Investments LP Acquires New Position in Apollo Global Management, Inc. (NYSE:APO)

Untitled Investments LP purchased a new stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 40,130 shares of the financial services provider's stock, valued at approximately $6,628,000. Apollo Global Management comprises 1.6% of Untitled Investments LP's portfolio, making the stock its 16th largest position.

A number of other large investors also recently added to or reduced their stakes in APO. Kestra Private Wealth Services LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter worth $3,994,000. Fortress Financial Solutions LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter valued at $685,000. Leavell Investment Management Inc. boosted its holdings 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 purchasing an additional 1,750 shares during the last quarter. Amundi increased its stake in Apollo Global Management by 13.2% in the fourth quarter. Amundi now owns 801,260 shares of the financial services provider's stock valued at $129,788,000 after purchasing an additional 93,451 shares during the last quarter. Finally, State of Michigan Retirement System acquired a new stake in shares of Apollo Global Management in the fourth quarter worth approximately $20,034,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on APO shares. Wells Fargo & Company reduced their price objective on Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup lowered their price objective on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Piper Sandler reduced their price objective on Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Bank of America upped their target price on Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 4th. Finally, Morgan Stanley dropped their price objective on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $156.25.

Apollo Global Management Price Performance

NYSE:APO traded up $1.76 during mid-day trading on Thursday, reaching $138.24. The stock had a trading volume of 3,562,834 shares, compared to its average volume of 3,846,576. The stock has a 50-day simple moving average of $133.38 and a two-hundred day simple moving average of $152.96. The stock has a market capitalization of $78.86 billion, a PE ratio of 18.91, a P/E/G ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. 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. Investors of record on Tuesday, February 18th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management's payout ratio is presently 25.31%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Lb 2018 Gst Trust purchased 607,725 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the transaction, the insider now owns 621,754 shares in the company, valued at $69,257,178.06. The trade was a 4,331.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Thursday, February 13th. The stock was 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 in the company, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

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.