Apollo Global Management, Inc. (NYSE:APO) reported a significant transaction by one of its associated individuals. Leon Black, who has ties to the company through the Apollo Global Management, Inc. Stockholders Agreement, has sold a substantial amount of common stock, according to the latest filings.
The transaction, which occurred on March 19, 2024, involved the sale of 450,000 shares at a weighted average price of $110.7062 per share. The total value of the shares sold by Leon Black amounted to approximately $49.8 million. The shares were sold in multiple transactions with prices ranging from $110.50 to $111.30.
Following this sale, Leon Black still holds a significant stake in the company, with 42,604,773 shares remaining in his possession. The sale has been publicly disclosed as per regulatory requirements and provides transparency into the trading activities of company insiders.
Investors and market watchers often pay close attention to insider transactions as they can provide valuable insights into a company's financial health and future prospects. However, it's important to note that these transactions do not necessarily indicate a change in company fundamentals and can be influenced by a variety of factors.
Apollo Global Management, Inc. is a leading global alternative investment manager with a diverse portfolio of assets under management. The company has a strong presence in the investment advice sector and continues to be a significant player in the financial industry.
The reporting person has clarified that he may be deemed to be a member of a "group" for purposes of the Securities Exchange Act of 1934 due to the Apollo Global Management, Inc. Stockholders Agreement. However, Leon Black disclaims beneficial ownership of any securities that he does not directly own and has stated that this report should not be taken as an admission of being a member of a group or as beneficial owner of any securities not directly owned.
For further information regarding the number of shares sold at each separate price within the range, Leon Black has agreed to provide full details upon request to the Securities and Exchange Commission, any security holder of the issuer, or the issuer itself.
InvestingPro Insights
Following the recent insider transaction at Apollo Global Management, Inc. (NYSE:APO), current and potential investors may be seeking deeper insights into the company's financial performance and market position. According to real-time data from InvestingPro, APO boasts a robust market capitalization of 65.08 billion USD, reflecting its substantial presence in the financial services industry. The company's P/E ratio stands at a competitive 13.84, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at 13.51, indicating a stable valuation relative to earnings.
InvestingPro Tips suggest that APO is a prominent player in the Financial Services industry, which aligns with the company's diverse portfolio and significant assets under management. It's also worth noting that the stock has experienced high returns over the last year, with a 1 Year Price Total Return of 89.45%. This performance is consistent with the company's strong return over the last five years, reinforcing its reputation as a solid investment opportunity over the medium to long term.
On the dividend front, APO has maintained dividend payments for 14 consecutive years, showcasing its commitment to shareholder returns. The current dividend yield stands at 1.53%, with a dividend growth of 7.5% over the last twelve months as of Q4 2023. These figures may be particularly appealing to income-focused investors.
For those considering Apollo Global Management as an investment, it could be valuable to explore the additional insights available on InvestingPro. There are numerous InvestingPro Tips that can provide further clarity on the company's prospects, including sales forecasts and profitability predictions. To enhance your research, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 15 additional tips listed in InvestingPro, investors have a wealth of information at their fingertips to make informed decisions.
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