Principal Financial Group Inc. Increases Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Principal Financial Group Inc. lifted its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 813.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 542,780 shares of the financial services provider’s stock after acquiring an additional 483,369 shares during the quarter. Principal Financial Group Inc.’s holdings in Apollo Global Management were worth $89,646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of APO. Creative Planning lifted its stake in shares of Apollo Global Management by 5.9% during the 3rd quarter. Creative Planning now owns 41,784 shares of the financial services provider’s stock valued at $5,219,000 after buying an additional 2,316 shares in the last quarter. Blue Trust Inc. lifted its stake in Apollo Global Management by 230.7% in the 3rd quarter. Blue Trust Inc. now owns 3,208 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 2,238 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its stake in Apollo Global Management by 3.0% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,687 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 77 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Apollo Global Management by 751.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 28,978 shares of the financial services provider’s stock worth $3,620,000 after purchasing an additional 25,575 shares in the last quarter. Finally, Sierra Capital LLC lifted its stake in Apollo Global Management by 113.4% in the 3rd quarter. Sierra Capital LLC now owns 34,655 shares of the financial services provider’s stock worth $4,329,000 after purchasing an additional 18,412 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Trading Down 0.5 %

Shares of APO opened at $161.97 on Wednesday. The firm’s 50-day moving average price is $167.19 and its 200-day moving average price is $147.01. The firm has a market capitalization of $91.65 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 1.28 and a beta of 1.63. 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 1-year low of $95.11 and a 1-year high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be given a dividend of $0.4625 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.14%. Apollo Global Management’s dividend payout ratio (DPR) is currently 25.31%.

Analyst Ratings Changes

Several analysts have recently weighed in on APO shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Barclays raised their price objective on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. The Goldman Sachs Group increased their target price on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Citigroup increased their target price on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $165.74.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the transaction, the insider now directly owns 35,471,373 shares of the company’s stock, valued at $6,177,694,321.68. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the transaction, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 201,600 shares of company stock valued at $34,977,528 in the last three months. Company 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.