ABN Amro Investment Solutions Makes New Investment in Apollo Global Management Inc. $APO

ABN Amro Investment Solutions purchased a new stake in Apollo Global Management Inc. (NYSE:APO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 6,471 shares of the financial services provider’s stock, valued at approximately $918,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Apollo Global Management by 2.0% in the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock worth $6,303,186,000 after acquiring an additional 893,428 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Apollo Global Management by 24.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock valued at $490,482,000 after purchasing an additional 706,181 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Apollo Global Management by 3.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider’s stock valued at $412,641,000 after purchasing an additional 112,736 shares during the last quarter. Boston Partners purchased a new position in shares of Apollo Global Management during the 1st quarter worth $370,543,000. Finally, Allen Investment Management LLC increased its position in shares of Apollo Global Management by 14.4% during the 1st quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider’s stock worth $361,664,000 after purchasing an additional 333,428 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insiders Place Their Bets

In related news, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the transaction, the insider owned 4,526,000 shares in the company, valued at $606,619,780. The trade was a 16.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.20% of the stock is currently owned by company insiders.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $130.56 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market cap of $74.68 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 1.42 and a beta of 1.63. The stock’s 50-day moving average is $130.66 and its two-hundred day moving average is $136.25. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, November 17th. Apollo Global Management’s dividend payout ratio is presently 29.82%.

Analyst Ratings Changes

A number of research analysts have commented on APO shares. Evercore ISI upped their target price on shares of Apollo Global Management from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Morgan Stanley lowered their price objective on shares of Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. Barclays lifted their target price on shares of Apollo Global Management from $147.00 to $158.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Keefe, Bruyette & Woods upped their price target on Apollo Global Management from $162.00 to $173.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

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.