World Investment Advisors Raises Position in Apollo Global Management, Inc. (NYSE:APO)

World Investment Advisors increased its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,996 shares of the financial services provider’s stock after purchasing an additional 173 shares during the period. World Investment Advisors’ holdings in Apollo Global Management were worth $1,156,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Apollo Global Management by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock worth $1,550,316,000 after buying an additional 3,695,979 shares during the period. Vanguard Group Inc. increased its position in Apollo Global Management by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock worth $7,454,560,000 after purchasing an additional 3,691,700 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Apollo Global Management by 245.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock valued at $438,196,000 after buying an additional 1,886,146 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Apollo Global Management by 60.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after acquiring an additional 1,094,464 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Apollo Global Management by 42.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock valued at $436,148,000 after purchasing an additional 782,700 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on APO. Morgan Stanley upped their price objective on shares of Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Piper Sandler reduced their target price on shares of Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. TD Cowen raised their price target on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, BMO Capital Markets lifted their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $168.26.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the completion of the transaction, the chief financial officer now directly owns 377,164 shares in the company, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Leon D. Black sold 500,000 shares of the business’s 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 sale, the insider now directly owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

Apollo Global Management Stock Down 12.3 %

NYSE:APO opened at $108.22 on Friday. The firm has a market capitalization of $61.74 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The stock has a 50 day moving average of $148.49 and a 200-day moving average of $153.82. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is 25.31%.

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.