Virtu Financial LLC Purchases New Position in Apollo Global Management, Inc. (NYSE:APO)

Virtu Financial LLC purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,028 shares of the financial services provider’s stock, valued at approximately $1,491,000.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its stake in Apollo Global Management by 34.1% in the third quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock worth $2,428,000 after purchasing an additional 4,941 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Apollo Global Management by 43.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 767,014 shares of the financial services provider’s stock worth $95,808,000 after purchasing an additional 233,670 shares during the last quarter. Banco Santander S.A. bought a new stake in Apollo Global Management in the third quarter worth about $1,537,000. Charles Schwab Investment Management Inc. lifted its stake in Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after purchasing an additional 383,557 shares during the last quarter. Finally, GenTrust LLC bought a new stake in Apollo Global Management in the third quarter worth about $385,000. Institutional investors own 77.06% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the sale, the chief financial officer now directly owns 377,164 shares in the company, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the sale, the insider now owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. The trade was a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

NYSE APO opened at $143.53 on Friday. The firm’s fifty day simple moving average is $154.31 and its two-hundred day simple moving average is $152.02. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The firm has a market capitalization of $81.88 billion, a P/E ratio of 19.63, a P/E/G ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.29%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Barclays lifted their price target on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. BMO Capital Markets lifted their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Piper Sandler lifted their price target on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $165.21.

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.