State of Alaska Department of Revenue Invests $8.42 Million in Apollo Global Management, Inc. (NYSE:APO)

State of Alaska Department of Revenue purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 50,965 shares of the financial services provider’s stock, valued at approximately $8,417,000.

A number of other large investors have also recently bought and sold shares of APO. Chicago Capital LLC raised its holdings in shares of Apollo Global Management by 1.2% in the third quarter. Chicago Capital LLC now owns 5,675 shares of the financial services provider’s stock valued at $709,000 after buying an additional 69 shares during the last quarter. Menard Financial Group LLC increased its position in Apollo Global Management by 1.2% in the 3rd quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider’s stock valued at $720,000 after acquiring an additional 71 shares during the period. Cyndeo Wealth Partners LLC raised its stake in Apollo Global Management by 3.0% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,687 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 77 shares during the last quarter. Sfmg LLC lifted its position in Apollo Global Management by 1.1% during the 3rd quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock worth $902,000 after acquiring an additional 79 shares during the period. Finally, Cigna Investments Inc. New grew its stake in shares of Apollo Global Management by 1.8% in the 3rd quarter. Cigna Investments Inc. New now owns 5,166 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In other news, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction on Monday, December 2nd. The stock was 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 owns 35,471,373 shares of the company’s stock, valued at $6,177,694,321.68. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the sale, the chief financial officer now directly owns 320,564 shares in the company, valued at approximately $55,332,552.04. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 196,600 shares of company stock valued at $34,186,128 over the last quarter. Insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on APO. Evercore ISI increased their price target on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company lowered their target price on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a report on Wednesday. Barclays increased their price target on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Piper Sandler lifted their price objective on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group increased their target price on Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. 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 stock. According to MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average target price of $164.00.

Apollo Global Management Trading Down 0.6 %

Shares of APO opened at $164.76 on Friday. 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, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49. The stock has a market cap of $93.22 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.37 and a beta of 1.63. The firm has a 50 day simple moving average of $169.37 and a 200-day simple moving average of $144.39.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a $0.4625 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.12%. Apollo Global Management’s dividend payout ratio is currently 19.33%.

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.