Peapack Gladstone Financial Corp Invests $226,000 in Apollo Global Management, Inc. (NYSE:APO)

Peapack Gladstone Financial Corp acquired a new position in Apollo Global Management, Inc. (NYSE:APO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,366 shares of the financial services provider’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently made changes to their positions in APO. Aviva PLC increased its position in shares of Apollo Global Management by 124.8% in the 4th quarter. Aviva PLC now owns 434,389 shares of the financial services provider’s stock valued at $71,744,000 after buying an additional 241,179 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Apollo Global Management during the 4th quarter worth about $1,364,000. Resona Asset Management Co. Ltd. acquired a new stake in Apollo Global Management in the 4th quarter valued at about $19,388,000. Islay Capital Management LLC lifted its stake in Apollo Global Management by 4.9% in the 4th quarter. Islay Capital Management LLC now owns 8,037 shares of the financial services provider’s stock valued at $1,327,000 after purchasing an additional 375 shares during the last quarter. Finally, Riverwater Partners LLC bought a new position in Apollo Global Management in the 4th quarter valued at about $325,000. Institutional investors own 77.06% of the company’s stock.

Insider Activity

In other news, insider Lb 2018 Gst Trust bought 607,725 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the acquisition, the insider now directly owns 621,754 shares in the company, valued at $69,257,178.06. This trade represents a 4,331.92 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on APO. TD Cowen lowered their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America raised their target price on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 4th. BMO Capital Markets lifted their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Barclays cut their price target on shares of Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Piper Sandler cut their price target on shares of Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $157.16.

Apollo Global Management Stock Up 16.6 %

Shares of Apollo Global Management stock opened at $128.69 on Thursday. 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 firm’s 50-day moving average is $143.27 and its two-hundred day moving average is $153.45. The stock has a market cap of $73.42 billion, a price-to-earnings ratio of 17.60, a PEG 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. Stockholders of record on Tuesday, February 18th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 25.31%.

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.