Alliancebernstein L.P. Grows Position in Apollo Global Management, Inc. (NYSE:APO)

Alliancebernstein L.P. grew its stake in Apollo Global Management, Inc. (NYSE:APO) by 12.6% during the 4th quarter, Holdings Channel reports. The fund owned 1,860,490 shares of the financial services provider’s stock after acquiring an additional 208,538 shares during the period. Alliancebernstein L.P.’s holdings in Apollo Global Management were worth $307,279,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Apollo Global Management by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after purchasing an additional 3,691,700 shares in the last quarter. Geode Capital Management LLC raised its position 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 valued at $713,230,000 after buying an additional 254,268 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Apollo Global Management by 60.6% during the fourth 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 buying an additional 1,094,464 shares during the period. Bank of New York Mellon Corp boosted its position in Apollo Global Management by 42.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock worth $436,148,000 after acquiring an additional 782,700 shares during the last quarter. Finally, TD Asset Management Inc. grew its stake in Apollo Global Management by 13.6% in the 4th quarter. TD Asset Management Inc. now owns 2,473,237 shares of the financial services provider’s stock worth $408,480,000 after acquiring an additional 296,951 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the transaction, the insider now directly owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This represents a 1.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the sale, the chief financial officer now directly owns 377,164 shares in the company, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.

Apollo Global Management Trading Up 0.1 %

Shares of APO opened at $137.08 on Tuesday. 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, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The stock has a market cap of $78.20 billion, a PE ratio of 18.75, a P/E/G ratio of 1.17 and a beta of 1.66. The stock’s 50-day moving average is $151.87 and its two-hundred day moving average is $153.76.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BMO Capital Markets increased their price target on 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 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. TD Cowen upped 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 note on Monday, December 9th. Piper Sandler raised their target price on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.21.

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.