Confluence Wealth Services Inc. Invests $202,000 in Apollo Global Management, Inc. (NYSE:APO)

Confluence Wealth Services Inc. purchased a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,188 shares of the financial services provider’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Apollo Global Management by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after acquiring an additional 254,268 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Apollo Global Management by 27.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after acquiring an additional 383,557 shares in the last quarter. Janus Henderson Group PLC raised its stake in Apollo Global Management by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock worth $167,298,000 after acquiring an additional 4,892 shares in the last quarter. Swiss National Bank raised its stake in Apollo Global Management by 0.4% during the 3rd quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock worth $147,670,000 after acquiring an additional 4,600 shares in the last quarter. Finally, Fort Pitt Capital Group LLC raised its stake in Apollo Global Management by 10.5% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 1,100,686 shares of the financial services provider’s stock worth $137,487,000 after acquiring an additional 104,668 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Stock Down 0.6 %

APO stock opened at $164.76 on Friday. The company has a market cap of $93.22 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.37 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’s 50-day moving average price is $169.37 and its 200 day moving average price is $144.39. 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 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 dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 19.33%.

Analyst Ratings Changes

Several equities research analysts recently commented on APO shares. UBS Group upgraded shares of Apollo Global Management to a “hold” rating in a research note on Wednesday, November 13th. Barclays lifted their price objective 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. Keefe, Bruyette & Woods dropped their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday. BMO Capital Markets lifted their price objective 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. Finally, Wells Fargo & Company dropped their price objective on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a research note on Wednesday. One 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 company. According to MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $164.00.

Insider Buying and Selling

In other Apollo Global Management news, insider Leon D. Black sold 133,400 shares of the company’s stock in a transaction dated 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 owns 35,471,373 shares of the company’s stock, valued at $6,177,694,321.68. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 320,564 shares in the company, valued at $55,332,552.04. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,600 shares of company stock valued at $34,186,128. Corporate 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.