King Wealth Management Group Makes New $865,000 Investment in Apollo Global Management Inc. $APO

King Wealth Management Group purchased a new position in shares of Apollo Global Management Inc. (NYSE:APO) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,100 shares of the financial services provider’s stock, valued at approximately $865,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Apollo Global Management by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock valued at $6,303,186,000 after acquiring an additional 893,428 shares during the period. Goldman Sachs Group Inc. increased its stake in Apollo Global Management by 24.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock worth $490,482,000 after purchasing an additional 706,181 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Apollo Global Management by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider’s stock worth $412,641,000 after purchasing an additional 112,736 shares in the last quarter. Boston Partners purchased a new position in shares of Apollo Global Management in the first quarter valued at approximately $370,543,000. Finally, Allen Investment Management LLC grew its holdings in shares of Apollo Global Management by 14.4% in the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider’s stock valued at $361,664,000 after purchasing an additional 333,428 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In other news, insider Leon D. Black sold 915,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the transaction, the insider directly owned 4,526,000 shares in the company, valued at approximately $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.20% of the company’s stock.

Analyst Ratings Changes

APO has been the topic of several recent analyst reports. Wall Street Zen raised Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Barclays upped their price objective on Apollo Global Management from $147.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. BMO Capital Markets assumed coverage on Apollo Global Management in a research report on Friday, October 3rd. They set a “market perform” rating and a $132.00 target price on the stock. Citigroup lowered their price target on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday, October 13th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Apollo Global Management from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Apollo Global Management Stock Down 3.6%

Apollo Global Management stock opened at $128.74 on Friday. The company has a market capitalization of $73.64 billion, a P/E ratio of 24.06, a PEG ratio of 1.42 and a beta of 1.63. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The stock has a 50-day simple moving average of $130.68 and a 200-day simple moving average of $136.29.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be paid a $0.51 dividend. The ex-dividend date is Monday, November 17th. This represents a $2.04 dividend on an annualized basis and a yield of 1.6%. Apollo Global Management’s payout ratio is currently 29.82%.

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.