Vanguard Group Inc. Raises Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Vanguard Group Inc. grew its position in Apollo Global Management, Inc. (NYSE:APO) by 8.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,135,384 shares of the financial services provider’s stock after acquiring an additional 3,691,700 shares during the quarter. Vanguard Group Inc. owned about 7.98% of Apollo Global Management worth $7,454,560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Apollo Global Management by 4.7% in the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after acquiring an additional 254,268 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Apollo Global Management by 60.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after acquiring an additional 1,094,464 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Apollo Global Management by 42.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock valued at $436,148,000 after acquiring an additional 782,700 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Apollo Global Management by 0.4% in the third quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock valued at $167,298,000 after acquiring an additional 4,892 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Apollo Global Management by 0.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 958,745 shares of the financial services provider’s stock valued at $158,346,000 after acquiring an additional 6,955 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on APO. Morgan Stanley raised their target price on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Piper Sandler lifted their price objective on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods reduced their price objective on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, BMO Capital Markets lifted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus price target of $165.21.

Insider Activity

In related news, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the transaction, the insider now directly owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This trade represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the completion of the transaction, the chief financial officer now 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 own 8.50% of the company’s stock.

Apollo Global Management Trading Down 0.9 %

Shares of NYSE APO opened at $143.53 on Monday. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $154.31 and a 200-day simple moving average of $152.32. The stock has a market capitalization of $81.88 billion, a PE ratio of 19.63, a PEG ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.29%. Apollo Global Management’s payout ratio is presently 25.31%.

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.