KLP Kapitalforvaltning AS Invests $22.10 Million in Apollo Global Management, Inc. (NYSE:APO)

KLP Kapitalforvaltning AS bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, Holdings Channel reports. The firm bought 133,790 shares of the financial services provider’s stock, valued at approximately $22,097,000.

A number of other hedge funds also recently made changes to their positions in APO. Advisors Asset Management Inc. raised its stake in shares of Apollo Global Management by 34.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock worth $2,428,000 after purchasing an additional 4,941 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Apollo Global Management by 43.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 767,014 shares of the financial services provider’s stock valued at $95,808,000 after acquiring an additional 233,670 shares during the period. Banco Santander S.A. bought a new stake in Apollo Global Management in the 3rd quarter valued at about $1,537,000. Charles Schwab Investment Management Inc. raised its stake in Apollo Global Management by 27.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after acquiring an additional 383,557 shares during the period. Finally, GenTrust LLC bought a new stake in Apollo Global Management in the 3rd quarter valued at about $385,000. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Stock Down 0.9 %

Shares of NYSE APO opened at $143.53 on Friday. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $81.88 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.17 and a beta of 1.66. The business has a 50-day moving average of $154.31 and a 200-day moving average of $152.02.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred 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 transaction, the chief financial officer now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on APO. Barclays boosted their price objective on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods lowered their price objective on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. TD Cowen boosted their price objective on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Piper Sandler boosted their price objective on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, BMO Capital Markets boosted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.