1,965 Shares in Apollo Global Management, Inc. (NYSE:APO) Acquired by Riverwater Partners LLC

Riverwater Partners LLC bought a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,965 shares of the financial services provider’s stock, valued at approximately $325,000.

Several other hedge funds have also made changes to their positions in the company. Hopwood Financial Services Inc. bought a new stake in shares of Apollo Global Management in the fourth quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Apollo Global Management in the 4th quarter valued at about $34,000. Byrne Asset Management LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $37,000. Retirement Wealth Solutions LLC bought a new position in shares of Apollo Global Management during the fourth quarter valued at approximately $39,000. Finally, HM Payson & Co. purchased a new position in Apollo Global Management during the fourth quarter valued at approximately $45,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the sale, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Apollo Global Management Trading Down 12.3 %

Shares of NYSE:APO opened at $108.22 on Friday. The business has a 50-day moving average price of $148.49 and a 200-day moving average price of $153.57. The stock has a market cap of $61.74 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

APO has been the topic of several recent research reports. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Bank of America lifted their target price on Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company decreased their price target on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Morgan Stanley lifted their price objective on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. One 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $168.26.

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.