Allstate Corp Invests $1.93 Million in Apollo Global Management, Inc. (NYSE:APO)

Allstate Corp purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) during the 4th quarter, HoldingsChannel reports. The fund purchased 11,686 shares of the financial services provider’s stock, valued at approximately $1,930,000.

A number of other institutional investors also recently modified their holdings of APO. Vanguard Group Inc. raised its holdings in Apollo Global Management by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after acquiring an additional 3,691,700 shares during the period. Geode Capital Management LLC raised its stake in shares of Apollo Global Management by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after purchasing an additional 254,268 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Apollo Global Management by 60.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock worth $479,057,000 after purchasing an additional 1,094,464 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Apollo Global Management by 42.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock worth $436,148,000 after purchasing an additional 782,700 shares during the period. Finally, TD Asset Management Inc. boosted its stake in Apollo Global Management by 13.6% in the 4th quarter. TD Asset Management Inc. now owns 2,473,237 shares of the financial services provider’s stock worth $408,480,000 after purchasing an additional 296,951 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

Apollo Global Management stock opened at $136.89 on Friday. The firm has a fifty day simple moving average of $152.47 and a two-hundred day simple moving average of $153.27. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The company has a market capitalization of $78.09 billion, a PE ratio of 18.73, a P/E/G ratio of 1.17 and a beta of 1.66. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.35%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Analysts Set New Price Targets

APO has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Morgan Stanley increased their target price on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Wells Fargo & Company lowered their price objective on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Finally, Keefe, Bruyette & Woods dropped their price objective on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. One equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $165.21.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the sale, the chief financial officer now owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were 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 $4,913,877,766. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.

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.