Bank of New York Mellon Corp Acquires 48,053 Shares of Apollo Global Management Inc. $APO

Bank of New York Mellon Corp lifted its holdings in Apollo Global Management Inc. (NYSE:APO) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,451,537 shares of the financial services provider’s stock after buying an additional 48,053 shares during the period. Bank of New York Mellon Corp owned about 0.43% of Apollo Global Management worth $326,716,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in APO. Fortress Financial Solutions LLC raised its position in Apollo Global Management by 1.6% during the second quarter. Fortress Financial Solutions LLC now owns 4,561 shares of the financial services provider’s stock valued at $647,000 after purchasing an additional 74 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in shares of Apollo Global Management by 44.0% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 252 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 77 shares during the last quarter. Cynosure Group LLC raised its holdings in Apollo Global Management by 2.6% during the 3rd quarter. Cynosure Group LLC now owns 3,385 shares of the financial services provider’s stock valued at $451,000 after buying an additional 85 shares during the period. SOA Wealth Advisors LLC. lifted its position in Apollo Global Management by 8.5% in the third quarter. SOA Wealth Advisors LLC. now owns 1,169 shares of the financial services provider’s stock worth $156,000 after buying an additional 92 shares during the last quarter. Finally, Tower Wealth Partners Inc. boosted its stake in Apollo Global Management by 4.7% during the second quarter. Tower Wealth Partners Inc. now owns 2,086 shares of the financial services provider’s stock worth $296,000 after buying an additional 94 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wolfe Research reissued an “outperform” rating on shares of Apollo Global Management in a research note on Wednesday, January 7th. BMO Capital Markets set a $136.00 price target on Apollo Global Management and gave the stock a “market perform” rating in a research note on Tuesday, November 25th. The Goldman Sachs Group restated a “buy” rating and set a $155.00 price objective on shares of Apollo Global Management in a report on Tuesday, November 25th. TD Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research note on Tuesday, November 25th. Finally, Morgan Stanley raised shares of Apollo Global Management from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $151.00 to $180.00 in a research note on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.62.

Apollo Global Management Stock Performance

Shares of APO stock opened at $134.39 on Friday. The firm has a market cap of $78.00 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 1.19 and a beta of 1.59. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $174.91. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average is $141.51 and its 200 day moving average is $137.50.

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. Apollo Global Management’s dividend payout ratio is presently 29.82%.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 6,000 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $131.41, for a total transaction of $788,460.00. Following the transaction, the chief financial officer directly owned 325,604 shares in the company, valued at $42,787,621.64. The trade was a 1.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.20% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.