Keystone Investors PTE Ltd. Acquires New Stake in Apollo Global Management, Inc. (NYSE:APO)

Keystone Investors PTE Ltd. bought a new position in Apollo Global Management, Inc. (NYSE:APO) during the 4th quarter, Holdings Channel reports. The institutional investor bought 218,652 shares of the financial services provider’s stock, valued at approximately $36,113,000. Apollo Global Management comprises approximately 2.5% of Keystone Investors PTE Ltd.’s investment portfolio, making the stock its 14th biggest position.

A number of other institutional investors have also recently modified their holdings of the stock. Hopwood Financial Services Inc. bought a new position in Apollo Global Management in the 4th quarter worth about $33,000. Kohmann Bosshard Financial Services LLC purchased a new position in Apollo Global Management in the fourth quarter worth about $34,000. Byrne Asset Management LLC bought a new position in shares of Apollo Global Management in the fourth quarter worth approximately $37,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter valued at approximately $39,000. Finally, HM Payson & Co. bought a new stake in shares of Apollo Global Management during the fourth quarter valued at approximately $45,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

NYSE:APO opened at $148.59 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s fifty day moving average is $154.19 and its 200 day moving average is $152.60. The firm has a market capitalization of $84.77 billion, a PE ratio of 20.33, a PEG ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a $0.4625 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.25%. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

Analysts Set New Price Targets

Several analysts have commented on APO shares. Wells Fargo & Company cut their target price on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Morgan Stanley lifted their price objective on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Keefe, Bruyette & Woods lowered their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Finally, TD Cowen increased their price objective on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $165.21.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the business’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 transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Leon D. Black sold 500,000 shares of the 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. The trade was a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Company 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.