Pinnacle Financial Partners Inc Increases Stake in Apollo Global Management, Inc. (NYSE:APO)

Pinnacle Financial Partners Inc increased its stake in Apollo Global Management, Inc. (NYSE:APO) by 2.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 88,283 shares of the financial services provider’s stock after acquiring an additional 1,970 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Apollo Global Management were worth $14,581,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Navellier & Associates Inc. increased its stake in Apollo Global Management by 30.7% in the 4th quarter. Navellier & Associates Inc. now owns 5,702 shares of the financial services provider’s stock worth $942,000 after buying an additional 1,340 shares during the period. Dividend Assets Capital LLC grew its holdings in Apollo Global Management by 2.8% during the 4th quarter. Dividend Assets Capital LLC now owns 5,177 shares of the financial services provider’s stock worth $855,000 after acquiring an additional 140 shares in the last quarter. Paradigm Asset Management Co. LLC grew its holdings in Apollo Global Management by 48.1% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 2,156 shares of the financial services provider’s stock worth $356,000 after acquiring an additional 700 shares in the last quarter. ING Groep NV bought a new position in Apollo Global Management during the 4th quarter worth about $3,337,000. Finally, Handelsbanken Fonder AB grew its holdings in Apollo Global Management by 8.9% during the 4th quarter. Handelsbanken Fonder AB now owns 161,172 shares of the financial services provider’s stock worth $26,619,000 after acquiring an additional 13,105 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the completion of the sale, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leon D. Black sold 58,200 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the sale, the insider now directly owns 35,104,773 shares of the company’s stock, valued at $6,086,114,495.01. This trade represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,600 shares of company stock worth $34,977,528 in the last 90 days. 8.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APO. Evercore ISI increased their target price on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Wells Fargo & Company dropped their target price on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Barclays raised their price target on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $165.74.

Apollo Global Management Stock Performance

NYSE APO opened at $150.45 on Friday. 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 business’s 50-day simple moving average is $165.90 and its 200-day simple moving average is $147.53. The firm has a market capitalization of $85.13 billion, a P/E ratio of 20.58, a P/E/G ratio of 1.24 and a beta of 1.63.

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 given a dividend of $0.4625 per share. 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 1.23%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

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.