Hartford Investment Management Co. Invests $4.57 Million in Apollo Global Management, Inc. (NYSE:APO)

Hartford Investment Management Co. purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,683 shares of the financial services provider’s stock, valued at approximately $4,572,000.

A number of other hedge funds have also bought and sold shares of the business. Byrne Asset Management LLC acquired a new position in shares of Apollo Global Management during the 4th quarter worth approximately $37,000. Retirement Wealth Solutions LLC bought a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $39,000. UMB Bank n.a. grew its position in Apollo Global Management by 447.1% during the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock worth $46,000 after buying an additional 228 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Apollo Global Management during the 3rd quarter worth $80,000. Finally, Truvestments Capital LLC bought a new position in Apollo Global Management during the 3rd quarter worth $83,000. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Trading Down 0.4 %

Shares of NYSE APO opened at $157.46 on Thursday. The firm has a 50 day moving average price of $168.28 and a two-hundred day moving average price of $145.59. The stock has a market cap of $89.09 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 1.28 and a beta of 1.63. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.17%. Apollo Global Management’s payout ratio is 25.31%.

Analyst Ratings Changes

Several analysts have recently issued reports on APO shares. Barclays increased their target price on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Evercore ISI increased their price objective on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. BMO Capital Markets boosted their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Wells Fargo & Company reduced their price target on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One equities research 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.74.

Insider Buying and Selling

In other news, insider Leon D. Black sold 133,400 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $174.16, for a total value of $23,232,944.00. Following the sale, the insider now directly owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. This represents a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the sale, the chief financial officer now owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 196,600 shares of company stock valued at $34,186,128 in the last three months. Insiders own 8.50% of the company’s stock.

Apollo Global Management Company 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.