Assenagon Asset Management S.A. increased its holdings in shares of Apollo Global Management, Inc. (NYSE:APO – Free Report) by 9.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,115 shares of the financial services provider’s stock after acquiring an additional 954 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Apollo Global Management were worth $1,836,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in Apollo Global Management by 27.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after purchasing an additional 383,557 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Apollo Global Management by 12,086.7% in the third quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock valued at $462,460,000 after acquiring an additional 367,195 shares during the period. Holocene Advisors LP grew its stake in shares of Apollo Global Management by 530.9% in the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock valued at $50,242,000 after acquiring an additional 338,472 shares in the last quarter. Geode Capital Management LLC increased its position in Apollo Global Management by 4.7% during the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after acquiring an additional 254,268 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Apollo Global Management by 43.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 767,014 shares of the financial services provider’s stock worth $95,808,000 after acquiring an additional 233,670 shares during the period. Institutional investors own 77.06% of the company’s stock.
Wall Street Analysts Forecast Growth
APO has been the topic of a number of analyst reports. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. BMO Capital Markets raised their price objective on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. TD Cowen lifted their price objective on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods increased their target price on Apollo Global Management from $168.00 to $196.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Finally, Piper Sandler boosted their price target 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.32.
Apollo Global Management Price Performance
Shares of APO opened at $169.49 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market cap of $95.90 billion, a PE ratio of 17.71, a PEG ratio of 1.36 and a beta of 1.63. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The business has a 50-day simple moving average of $169.49 and a two-hundred day simple moving average of $141.05.
Apollo Global Management Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were paid a $0.463 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.09%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio is currently 19.33%.
Insider Activity at Apollo Global Management
In related news, insider Leon D. Black sold 58,200 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the sale, the insider now directly owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 196,600 shares of company stock worth $34,186,128 in the last quarter. 8.50% of the stock is owned by insiders.
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.
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