Apollo Global Management, Inc. (NYSE:APO) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 921,999 shares of the financial services provider’s stock after selling 51,142 shares during the quarter. Jennison Associates LLC owned about 0.16% of Apollo Global Management worth $115,167,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Compagnie Lombard Odier SCmA acquired a new position in Apollo Global Management during the third quarter worth approximately $35,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Apollo Global Management during the 2nd quarter valued at $35,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Apollo Global Management by 293.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock worth $55,000 after buying an additional 346 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Apollo Global Management in the 3rd quarter worth $80,000. Finally, Mather Group LLC. boosted its holdings in Apollo Global Management by 826.9% in the second quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 645 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on APO. Bank of America upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $124.00 to $123.00 in a report on Tuesday, August 6th. BMO Capital Markets raised their price target on shares of Apollo Global Management from $138.00 to $157.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Redburn Atlantic began coverage on shares of Apollo Global Management in a research note on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective for the company. Barclays raised their target price on shares of Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, Piper Sandler began coverage on shares of Apollo Global Management in a research report on Tuesday. They set an “overweight” rating and a $188.00 price target for the company. One 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.05.

Apollo Global Management Stock Performance

Apollo Global Management stock opened at $162.87 on Thursday. Apollo Global Management, Inc. has a 52 week low of $87.85 and a 52 week high of $169.15. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market cap of $92.15 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 1.69 and a beta of 1.59. The stock has a 50 day moving average of $140.91 and a 200-day moving average of $123.77.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.14%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, November 18th. Apollo Global Management’s dividend payout ratio is 19.33%.

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.