New York Life Investment Management LLC Has $661,000 Holdings in Apollo Global Management, Inc. (NYSE:APO)

New York Life Investment Management LLC grew its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 12.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,097 shares of the financial services provider’s stock after acquiring an additional 774 shares during the quarter. New York Life Investment Management LLC’s holdings in Apollo Global Management were worth $661,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC boosted its position in shares of Apollo Global Management by 18.9% during the 3rd quarter. FMR LLC now owns 9,948,454 shares of the financial services provider’s stock valued at $892,973,000 after purchasing an additional 1,584,201 shares in the last quarter. PointState Capital LP bought a new position in shares of Apollo Global Management during the 3rd quarter worth approximately $98,382,000. Westfield Capital Management Co. LP acquired a new stake in shares of Apollo Global Management during the 3rd quarter worth approximately $73,840,000. Keystone Investors PTE Ltd. bought a new stake in shares of Apollo Global Management in the 3rd quarter valued at $54,355,000. Finally, Federated Hermes Inc. lifted its position in shares of Apollo Global Management by 45.6% during the 3rd quarter. Federated Hermes Inc. now owns 1,351,609 shares of the financial services provider’s stock valued at $121,320,000 after acquiring an additional 423,538 shares during the period. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Trading Up 0.1 %

NYSE APO opened at $113.33 on Thursday. Apollo Global Management, Inc. has a 12 month low of $59.89 and a 12 month high of $117.15. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $64.39 billion, a P/E ratio of 12.55, a PEG ratio of 0.92 and a beta of 1.61. The business has a fifty day simple moving average of $111.20 and a 200 day simple moving average of $100.64.

Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. Apollo Global Management had a net margin of 16.27% and a return on equity of 20.77%. The company had revenue of $795.00 million for the quarter, compared to analyst estimates of $823.27 million. On average, analysts predict that Apollo Global Management, Inc. will post 7.43 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.463 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.85 annualized dividend and a dividend yield of 1.63%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.43. Apollo Global Management’s dividend payout ratio (DPR) is currently 20.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Apollo Global Management from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. JMP Securities restated a “market perform” rating on shares of Apollo Global Management in a research note on Tuesday, April 9th. Evercore ISI upped their price target on Apollo Global Management from $120.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Citigroup increased their price target on Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, Wells Fargo & Company boosted their price objective on Apollo Global Management from $110.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $114.31.

Insider Transactions at Apollo Global Management

In related news, CFO Martin Kelly sold 14,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the completion of the sale, the chief financial officer now directly owns 366,572 shares of the company’s stock, valued at $39,989,339.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Leon D. Black sold 500,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $111.44, for a total value of $55,720,000.00. Following the transaction, the insider now directly owns 44,104,773 shares of the company’s stock, valued at approximately $4,915,035,903.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Martin Kelly sold 14,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the transaction, the chief financial officer now owns 366,572 shares of the company’s stock, valued at approximately $39,989,339.48. The disclosure for this sale can be found here. Insiders have sold 1,426,000 shares of company stock worth $158,226,960 in the last 90 days. Insiders own 8.70% of the company’s stock.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.