Vanguard Group Inc. Increases Holdings in Apollo Global Management, Inc. (NYSE:APO)

Vanguard Group Inc. grew its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 8.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 45,135,384 shares of the financial services provider’s stock after purchasing an additional 3,691,700 shares during the period. Vanguard Group Inc. owned approximately 0.08% of Apollo Global Management worth $7,454,560,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Partners Group Holding AG lifted its holdings in Apollo Global Management by 26.5% during the 3rd quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock worth $96,896,000 after buying an additional 162,678 shares during the last quarter. Kestra Private Wealth Services LLC purchased a new stake in Apollo Global Management during the 4th quarter worth about $3,994,000. Swedbank AB lifted its holdings in shares of Apollo Global Management by 50.9% in the 3rd quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock valued at $9,735,000 after purchasing an additional 26,300 shares during the last quarter. Fortress Financial Solutions LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at about $685,000. Finally, Leavell Investment Management Inc. lifted its holdings in shares of Apollo Global Management by 39.8% in the 4th quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock valued at $1,016,000 after purchasing an additional 1,750 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. This represents a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

NYSE APO opened at $143.53 on Monday. 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 business’s 50 day moving average is $154.31 and its two-hundred day moving average is $152.32. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The stock 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.

Apollo Global Management Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APO. BMO Capital Markets boosted their target price on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. TD Cowen boosted their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Morgan Stanley boosted their target price on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Finally, Wells Fargo & Company reduced their target price on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $165.21.

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.