Byrne Asset Management LLC Invests $37,000 in Apollo Global Management, Inc. (NYSE:APO)

Byrne Asset Management LLC bought a new stake in Apollo Global Management, Inc. (NYSE:APO) during the 4th quarter, Holdings Channel reports. The institutional investor bought 225 shares of the financial services provider’s stock, valued at approximately $37,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Partners Group Holding AG raised its stake in Apollo Global Management by 26.5% during the 3rd quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock worth $96,896,000 after acquiring an additional 162,678 shares in the last quarter. Swedbank AB increased its position in shares of Apollo Global Management by 50.9% during the third quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock worth $9,735,000 after purchasing an additional 26,300 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at about $648,000. Advisors Asset Management Inc. grew its stake in Apollo Global Management by 34.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock worth $2,428,000 after buying an additional 4,941 shares during the last quarter. Finally, Geode Capital Management LLC increased 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 worth $713,230,000 after buying an additional 254,268 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In other news, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.16, for a total transaction 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. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on 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 approximately $55,332,552.04. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,600 shares of company stock worth $34,186,128. 8.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

APO has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group increased their target price on shares of Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Barclays lifted their target price on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Evercore ISI lifted their price objective on shares of Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $164.00.

Apollo Global Management Stock Performance

NYSE:APO opened at $163.39 on Friday. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The company has a market capitalization of $92.45 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 1.37 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 firm has a 50-day moving average price of $169.13 and a two-hundred day moving average price of $144.66.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Tuesday, February 18th. Apollo Global Management’s payout ratio is currently 19.33%.

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.