Apollo Global Management, Inc. (NYSE:APO) Shares Acquired by Korea Investment CORP

Korea Investment CORP increased its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 79.0% during the 4th quarter, Holdings Channel reports. The fund owned 254,523 shares of the financial services provider’s stock after purchasing an additional 112,300 shares during the quarter. Korea Investment CORP’s holdings in Apollo Global Management were worth $42,037,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Core Wealth Partners LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter worth approximately $224,000. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Apollo Global Management by 7.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 193,931 shares of the financial services provider’s stock worth $32,030,000 after acquiring an additional 13,075 shares during the period. Keystone Investors PTE Ltd. acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at about $36,113,000. Zions Bancorporation N.A. increased its stake in shares of Apollo Global Management by 66.1% in the 4th quarter. Zions Bancorporation N.A. now owns 8,860 shares of the financial services provider’s stock valued at $1,463,000 after purchasing an additional 3,525 shares in the last quarter. Finally, TD Asset Management Inc. boosted its position in Apollo Global Management by 13.6% during the fourth quarter. TD Asset Management Inc. now owns 2,473,237 shares of the financial services provider’s stock worth $408,480,000 after purchasing an additional 296,951 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APO has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. 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 report on Monday, December 9th. BMO Capital Markets boosted their target price 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. Wells Fargo & Company decreased their price target on shares of 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. Finally, Piper Sandler boosted their price objective 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. One 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $165.21.

Insider Activity

In related news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the sale, the insider now directly owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This trade represents a 1.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were 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 directly owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $142.18 on Friday. 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 company has a 50-day moving average price of $153.07 and a 200 day moving average price of $152.75. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The stock has a market cap of $81.11 billion, a P/E ratio of 19.45, a PEG ratio of 1.17 and a beta of 1.66.

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. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.30%. Apollo Global Management’s dividend payout ratio is currently 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.