Short Interest in Apollo Global Management, Inc. (NYSE:APO) Expands By 11.8%

Apollo Global Management, Inc. (NYSE:APO) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 30,420,000 shares, an increase of 11.8% from the November 30th total of 27,220,000 shares. Based on an average trading volume of 5,290,000 shares, the days-to-cover ratio is currently 5.8 days.

Analyst Upgrades and Downgrades

Several brokerages have commented on APO. Piper Sandler raised their target price on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group boosted their price objective on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods upped their target price on shares of Apollo Global Management from $168.00 to $196.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Barclays raised their price target on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Morgan Stanley upped their price target on shares of Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $164.63.

Insider Buying and Selling

In other Apollo Global Management news, insider Leon D. Black sold 58,200 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the sale, the insider now owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 196,600 shares of company stock valued at $34,186,128. 8.50% of the stock is owned by insiders.

Institutional Trading of Apollo Global Management

A number of institutional investors have recently made changes to their positions in APO. Geode Capital Management LLC increased its stake in shares of Apollo Global Management by 4.7% in the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after buying an additional 254,268 shares during the period. Legal & General Group Plc increased its position in shares of Apollo Global Management by 3.0% in the second quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock valued at $517,527,000 after acquiring an additional 126,859 shares during the period. TD Asset Management Inc raised its stake in shares of Apollo Global Management by 3.8% during the second quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider’s stock valued at $318,522,000 after acquiring an additional 97,797 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Apollo Global Management by 27.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after purchasing an additional 383,557 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Apollo Global Management by 0.4% in the third quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock worth $167,298,000 after purchasing an additional 4,892 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

NYSE APO traded down $1.35 on Wednesday, reaching $165.16. 2,816,990 shares of the company’s stock traded hands, compared to its average volume of 3,251,495. The stock has a market cap of $93.45 billion, a PE ratio of 17.26, a P/E/G ratio of 1.84 and a beta of 1.63. The stock has a 50-day simple moving average of $165.30 and a 200 day simple moving average of $135.84. Apollo Global Management has a 12 month low of $89.76 and a 12 month high of $189.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a $0.463 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.12%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is currently 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.