Purus Wealth Management LLC Increases Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Purus Wealth Management LLC increased its holdings in Apollo Global Management, Inc. (NYSE:APO) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 25,909 shares of the financial services provider’s stock after purchasing an additional 173 shares during the quarter. Apollo Global Management accounts for about 1.7% of Purus Wealth Management LLC’s holdings, making the stock its 14th biggest holding. Purus Wealth Management LLC’s holdings in Apollo Global Management were worth $4,279,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in shares of Apollo Global Management by 447.1% in the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 228 shares during the period. Diversify Advisory Services LLC boosted its position in Apollo Global Management by 38.9% during the fourth quarter. Diversify Advisory Services LLC now owns 2,012 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 563 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in Apollo Global Management by 16.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 3,184 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 458 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Apollo Global Management in the fourth quarter worth about $648,000. Finally, HB Wealth Management LLC lifted its position in shares of Apollo Global Management by 59.0% during the fourth quarter. HB Wealth Management LLC now owns 7,298 shares of the financial services provider’s stock valued at $1,205,000 after buying an additional 2,709 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of APO stock opened at $166.81 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The business has a 50-day simple moving average of $169.18 and a 200-day simple moving average of $139.96. The stock has a market cap of $94.38 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.20 and a beta of 1.63.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were issued a dividend of $0.463 per share. The ex-dividend date was Monday, November 18th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a yield of 1.11%. Apollo Global Management’s dividend payout ratio is 19.33%.

Insider Transactions at Apollo Global Management

In other news, insider Leon D. Black sold 58,200 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the completion of the sale, the insider now owns 35,104,773 shares of the company’s stock, valued at $6,086,114,495.01. This represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares in the company, valued at $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 in the last ninety days. 8.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APO. The Goldman Sachs Group lifted their price objective on shares of Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Evercore ISI boosted their target price on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. UBS Group upgraded Apollo Global Management to a “hold” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler boosted their price target on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.32.

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.