Apollo Global Management Inc. $APO Shares Purchased by Columbia Bank

Columbia Bank boosted its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 31.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,580 shares of the financial services provider’s stock after acquiring an additional 855 shares during the quarter. Columbia Bank’s holdings in Apollo Global Management were worth $519,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of 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 worth $6,303,186,000 after purchasing an additional 893,428 shares during the last quarter. Goldman Sachs Group Inc. boosted 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 buying an additional 706,181 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Apollo Global Management by 1.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,050,164 shares of the financial services provider’s stock valued at $432,727,000 after acquiring an additional 36,866 shares during the last quarter. Boston Partners purchased a new stake in shares of Apollo Global Management in the 1st quarter valued at approximately $370,543,000. Finally, Nuveen LLC acquired a new position in shares of Apollo Global Management in the 1st quarter worth approximately $342,335,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insiders Place Their Bets

In related 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 value of $122,637,450.00. Following the sale, the insider owned 4,526,000 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. 8.20% of the stock is currently owned by company insiders.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $130.07 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market cap of $75.50 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 1.42 and a beta of 1.63. The stock’s 50-day moving average is $129.60 and its two-hundred day moving average is $135.98. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49.

Apollo Global Management Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on APO shares. Morgan Stanley upgraded shares of Apollo Global Management from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $151.00 to $180.00 in a report on Thursday, November 20th. Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Apollo Global Management in a research note on Monday, November 17th. Citigroup dropped their target price on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Finally, BMO Capital Markets assumed coverage on shares of Apollo Global Management in a research report on Friday, October 3rd. They set a “market perform” rating and a $132.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.08.

About Apollo Global Management

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.