Apollo Global Management, Inc. (NYSE:APO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 76.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,411 shares of the financial services provider’s stock after selling 193,874 shares during the quarter. Principal Financial Group Inc.’s holdings in Apollo Global Management were worth $7,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of APO. Curated Wealth Partners LLC lifted its position in shares of Apollo Global Management by 200.3% in the 2nd quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider’s stock valued at $278,945,000 after acquiring an additional 4,717,661 shares in the last quarter. Capital Research Global Investors boosted its stake in Apollo Global Management by 40.3% during the 1st quarter. Capital Research Global Investors now owns 4,738,565 shares of the financial services provider’s stock valued at $532,852,000 after purchasing an additional 1,360,525 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Apollo Global Management during the 2nd quarter valued at $62,972,000. 1832 Asset Management L.P. lifted its position in shares of Apollo Global Management by 66.0% in the 1st quarter. 1832 Asset Management L.P. now owns 1,257,460 shares of the financial services provider’s stock worth $141,401,000 after acquiring an additional 499,930 shares during the period. Finally, Marshall Wace LLP boosted its stake in Apollo Global Management by 74.5% during the second quarter. Marshall Wace LLP now owns 955,673 shares of the financial services provider’s stock worth $112,836,000 after buying an additional 408,105 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 NYSE APO opened at $168.28 on Wednesday. Apollo Global Management, Inc. has a one year low of $86.21 and a one year high of $169.15. The firm has a market cap of $95.22 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 1.69 and a beta of 1.59. The stock’s fifty day moving average price is $139.82 and its two-hundred day moving average price is $123.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be given a dividend of $0.463 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.10%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio is currently 19.33%.

Wall Street Analysts Forecast Growth

APO has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Wolfe Research began coverage on Apollo Global Management in a report on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 price objective for the company. Piper Sandler began coverage on Apollo Global Management in a report on Tuesday. They set an “overweight” rating and a $188.00 target price on the stock. Evercore ISI upped their target price on shares of Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets raised their target price on shares of Apollo Global Management from $138.00 to $157.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average target price of $155.05.

Apollo Global Management Company 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.