KLP Kapitalforvaltning AS Makes New Investment in Apollo Global Management, Inc. (NYSE:APO)

KLP Kapitalforvaltning AS bought a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 133,790 shares of the financial services provider’s stock, valued at approximately $22,097,000.

Several other large investors also recently modified their holdings of APO. Menard Financial Group LLC lifted its position in Apollo Global Management by 1.2% during the third quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 71 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Apollo Global Management by 2.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider’s stock valued at $447,000 after buying an additional 71 shares in the last quarter. Tower Wealth Partners Inc. lifted its holdings in shares of Apollo Global Management by 4.4% during the 4th quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock worth $288,000 after acquiring an additional 74 shares during the period. Sfmg LLC lifted its holdings in shares of Apollo Global Management by 1.1% during the 3rd quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock worth $902,000 after acquiring an additional 79 shares during the period. Finally, Global Retirement Partners LLC boosted its position in shares of Apollo Global Management by 0.9% during the 4th quarter. Global Retirement Partners LLC now owns 9,924 shares of the financial services provider’s stock worth $1,639,000 after acquiring an additional 90 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Stock Performance

Shares of APO stock opened at $143.53 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The firm has a 50 day moving average of $154.31 and a 200-day moving average of $152.02. The company has a market cap of $81.88 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 25.31%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on APO. Barclays lifted their price target on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Piper Sandler upped their price target on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Morgan Stanley increased their price target on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. TD Cowen upped their target price on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company dropped their target price on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research report on Thursday. 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 stock. According to data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $165.21.

Insider Activity

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction dated 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. 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.