Sagespring Wealth Partners LLC Purchases New Position in Apollo Global Management, Inc. (NYSE:APO)

Sagespring Wealth Partners LLC bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,068 shares of the financial services provider's stock, valued at approximately $342,000.

Other hedge funds have also bought and sold shares of the company. Kestra Private Wealth Services LLC acquired a new position in shares of Apollo Global Management in the fourth quarter valued at about $3,994,000. Fortress Financial Solutions LLC acquired a new stake in Apollo Global Management during the 4th quarter worth about $685,000. Leavell Investment Management Inc. lifted its holdings in shares of Apollo Global Management by 39.8% in the 4th quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider's stock valued at $1,016,000 after buying an additional 1,750 shares during the period. Amundi boosted its stake in shares of Apollo Global Management by 13.2% in the fourth quarter. Amundi now owns 801,260 shares of the financial services provider's stock worth $129,788,000 after buying 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 during the 4th quarter worth approximately $20,034,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. 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. Piper Sandler reduced their target price on shares of Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley lowered their price target on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. TD Cowen cut 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 report on Wednesday, April 9th. Finally, Wells Fargo & Company dropped their price target on Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.00.

Apollo Global Management Stock Down 4.7 %

Shares of APO traded down $5.90 during mid-day trading on Monday, hitting $120.88. 623,783 shares of the company's stock were exchanged, compared to its average volume of 4,152,123. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $68.96 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 1.17 and a beta of 1.66. The stock's 50-day moving average is $138.04 and its 200-day moving average is $153.55. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49.

Apollo Global Management Cuts Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management's dividend payout ratio is currently 25.31%.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now directly 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 filing with the SEC, which can be accessed through the SEC website. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price 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. The trade was a 4,331.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by company insiders.

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.