Prudential Financial Inc. Purchases 18,119 Shares of Apollo Global Management Inc. $APO

Prudential Financial Inc. lifted its position in shares of Apollo Global Management Inc. (NYSE:APO) by 7.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 252,217 shares of the financial services provider’s stock after buying an additional 18,119 shares during the quarter. Prudential Financial Inc.’s holdings in Apollo Global Management were worth $35,782,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Boston Partners bought a new stake in Apollo Global Management during the first quarter valued at $370,543,000. Nuveen LLC acquired a new position in shares of Apollo Global Management in the 1st quarter valued at about $342,335,000. Vanguard Group Inc. lifted its stake in shares of Apollo Global Management by 2.0% in 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 purchasing an additional 893,428 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Apollo Global Management by 24.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock valued at $490,482,000 after purchasing an additional 706,181 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in Apollo Global Management by 33.0% during the first quarter. Alliancebernstein L.P. now owns 2,473,614 shares of the financial services provider’s stock worth $338,737,000 after purchasing an additional 613,124 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their price target on Apollo Global Management from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Morgan Stanley raised shares of Apollo Global Management from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $151.00 to $180.00 in a research note on Thursday, November 20th. Citigroup reduced their price target on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday, October 13th. BMO Capital Markets started coverage on shares of Apollo Global Management in a report on Friday, October 3rd. They set a “market perform” rating and a $132.00 price objective on the stock. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Apollo Global Management in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.08.

Insiders Place Their Bets

In related news, insider Leon D. Black sold 915,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 4,526,000 shares of the company’s stock, valued at approximately $606,619,780. This trade represents a 16.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.20% of the company’s stock.

Apollo Global Management Stock Performance

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

Apollo Global Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be issued a $0.51 dividend. 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 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.