Resona Asset Management Co. Ltd. Purchases 5,892 Shares of Apollo Global Management Inc. $APO

Resona Asset Management Co. Ltd. boosted its position in Apollo Global Management Inc. (NYSE:APO) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,834 shares of the financial services provider’s stock after acquiring an additional 5,892 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Apollo Global Management were worth $18,353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APO. Charles Schwab Investment Management Inc. grew its position in shares of Apollo Global Management by 1.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,050,164 shares of the financial services provider’s stock worth $432,727,000 after buying an additional 36,866 shares during the period. Amundi lifted its holdings in Apollo Global Management by 68.9% in the second quarter. Amundi now owns 1,311,102 shares of the financial services provider’s stock valued at $187,199,000 after buying an additional 534,904 shares during the period. Heard Capital LLC boosted its stake in Apollo Global Management by 14.1% in the second quarter. Heard Capital LLC now owns 1,274,970 shares of the financial services provider’s stock valued at $180,880,000 after acquiring an additional 157,750 shares during the last quarter. Swiss National Bank boosted its stake in Apollo Global Management by 8.2% in the second quarter. Swiss National Bank now owns 1,208,914 shares of the financial services provider’s stock valued at $171,509,000 after acquiring an additional 91,800 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Apollo Global Management by 9.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,051,306 shares of the financial services provider’s stock worth $140,108,000 after acquiring an additional 88,792 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on APO shares. Piper Sandler reissued an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. Barclays dropped their price objective on Apollo Global Management from $172.00 to $168.00 and set an “overweight” rating for the company in a report on Friday, January 9th. Weiss Ratings restated a “hold (c)” rating on shares of Apollo Global Management in a report on Monday, December 29th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $155.00 price target on shares of Apollo Global Management in a research note on Tuesday, November 25th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Apollo Global Management from $162.00 to $173.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.62.

Apollo Global Management Stock Down 2.5%

NYSE:APO opened at $136.30 on Friday. Apollo Global Management Inc. has a 1 year low of $102.58 and a 1 year high of $174.91. The stock has a 50-day moving average price of $140.96 and a two-hundred day moving average price of $137.84. The stock has a market cap of $79.11 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.22 and a beta of 1.59. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.33.

Apollo Global Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Monday, November 17th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, November 17th. Apollo Global Management’s dividend payout ratio (DPR) is 29.82%.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $131.41, for a total value of $788,460.00. Following the completion of the transaction, the chief financial officer owned 325,604 shares in the company, valued at $42,787,621.64. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.20% of the company’s stock.

About Apollo Global Management

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.