Corebridge Financial Inc. Takes $18.20 Million Position in Apollo Global Management, Inc. (NYSE:APO)

Corebridge Financial Inc. bought a new position in Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 110,177 shares of the financial services provider’s stock, valued at approximately $18,197,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of APO. Hopwood Financial Services Inc. purchased a new stake in Apollo Global Management during the 4th quarter valued at $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management in the fourth quarter worth $34,000. Byrne Asset Management LLC bought a new stake in Apollo Global Management in the fourth quarter valued at $37,000. Retirement Wealth Solutions LLC purchased a new position in Apollo Global Management during the 4th quarter valued at $39,000. Finally, HM Payson & Co. bought a new position in Apollo Global Management in the 4th quarter worth $45,000. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

APO stock opened at $148.59 on Tuesday. The stock has a market cap of $84.77 billion, a PE ratio of 20.33, a P/E/G ratio of 1.17 and a beta of 1.66. The company has a 50-day moving average price of $154.19 and a 200 day moving average price of $152.60. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.25%. Apollo Global Management’s payout ratio is currently 25.31%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on APO. Wells Fargo & Company reduced their price target on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Morgan Stanley lifted their price target on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Piper Sandler increased their price objective on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods lowered their price objective on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. 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 company. According to MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus target price of $165.21.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the 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 in the company, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value 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. This trade represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by corporate insiders.

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.