Allianz SE Purchases New Shares in Apollo Global Management, Inc. (NYSE:APO)

Allianz SE acquired a new position in shares of Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,200 shares of the financial services provider’s stock, valued at approximately $200,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allstate Corp purchased a new position in Apollo Global Management in the 4th quarter valued at about $1,930,000. Brown Brothers Harriman & Co. raised its holdings in shares of Apollo Global Management by 13.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 2,826 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 333 shares during the last quarter. DnB Asset Management AS raised its holdings in shares of Apollo Global Management by 28.0% during the fourth quarter. DnB Asset Management AS now owns 208,439 shares of the financial services provider’s stock valued at $34,426,000 after acquiring an additional 45,659 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Apollo Global Management by 3.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 13,276 shares of the financial services provider’s stock valued at $2,193,000 after acquiring an additional 485 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Apollo Global Management by 12.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 172,195 shares of the financial services provider’s stock worth $28,440,000 after acquiring an additional 19,381 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

NYSE:APO opened at $137.08 on Tuesday. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two 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 50 day moving average price of $151.87 and a 200 day moving average price of $153.76. The stock has a market capitalization of $78.20 billion, a P/E ratio of 18.75, a PEG ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

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

Insider Activity

In other news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction that occurred 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 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 that occurred on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the sale, the insider now directly owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. The trade was a 1.42 % 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.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods lowered their price target on shares of 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. Morgan Stanley increased their price objective on shares of Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Wells Fargo & Company lowered their target price on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Finally, Barclays increased their price target on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. 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. According to MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and an average price target of $165.21.

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.