Apollo Global Management, Inc. (NYSE:APO) Stake Increased by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 64.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,413,245 shares of the financial services provider’s stock after buying an additional 3,695,979 shares during the quarter. Geode Capital Management LLC’s holdings in Apollo Global Management were worth $1,550,316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of APO. Hopwood Financial Services Inc. purchased a new position in Apollo Global Management during the 4th quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter worth approximately $34,000. Byrne Asset Management LLC purchased a new position in Apollo Global Management during the fourth quarter valued at approximately $37,000. Retirement Wealth Solutions LLC acquired a new position in Apollo Global Management in the 4th quarter valued at approximately $39,000. Finally, HM Payson & Co. purchased a new stake in Apollo Global Management in the 4th quarter worth approximately $45,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. TD Cowen boosted their price target on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler upped their target price 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. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. BMO Capital Markets increased their price objective on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Morgan Stanley lifted their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $165.21.

Apollo Global Management Trading Up 1.0 %

Shares of NYSE:APO opened at $138.30 on Wednesday. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $78.90 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.17 and a beta of 1.66. The stock’s 50-day moving average is $151.25 and its 200-day moving average is $153.93.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the business’s 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 owns 377,164 shares in the company, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Leon D. Black sold 500,000 shares of the company’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 transaction, the insider now directly owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

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.