APG Asset Management N.V. Makes New Investment in Apollo Global Management, Inc. (NYSE:APO)

APG Asset Management N.V. purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 233,100 shares of the financial services provider’s stock, valued at approximately $37,179,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Kestra Private Wealth Services LLC bought a new stake in Apollo Global Management in the 4th quarter valued at approximately $3,994,000. Fortress Financial Solutions LLC acquired a new stake in shares of Apollo Global Management in the fourth quarter valued at approximately $685,000. Leavell Investment Management Inc. lifted its position in shares of Apollo Global Management by 39.8% in the fourth quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock worth $1,016,000 after purchasing an additional 1,750 shares in the last quarter. Amundi boosted its holdings in Apollo Global Management by 13.2% during the fourth quarter. Amundi now owns 801,260 shares of the financial services provider’s stock worth $129,788,000 after purchasing an additional 93,451 shares during the last quarter. Finally, State of Michigan Retirement System bought a new position in Apollo Global Management in the fourth quarter valued at $20,034,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on APO. Morgan Stanley increased 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 note on Tuesday, February 11th. Piper Sandler reduced their price target on Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Bank of America boosted their price target on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 4th. Barclays cut their price objective on Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating for the company in a report on Monday. Finally, BMO Capital Markets boosted their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and an average price target of $161.68.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $110.06 on Wednesday. The company has a market capitalization of $62.78 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 1.17 and a beta of 1.66. The stock’s 50 day moving average is $144.98 and its 200-day moving average is $153.60. 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, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49.

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 given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, insider Lb 2018 Gst Trust acquired 607,725 shares of the company’s stock in a transaction on Friday, April 4th. The stock was acquired at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares of the company’s stock, valued at $69,257,178.06. This trade represents a 4,331.92 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Apollo Global Management 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.