Factory Mutual Insurance Co. Purchases 20,600 Shares of Apollo Global Management, Inc. (NYSE:APO)

Factory Mutual Insurance Co. raised its position in Apollo Global Management, Inc. (NYSE:APO) by 17.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,600 shares of the financial services provider’s stock after purchasing an additional 20,600 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Apollo Global Management were worth $17,562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its stake in Apollo Global Management by 140.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 10,725 shares of the financial services provider’s stock valued at $1,340,000 after acquiring an additional 6,259 shares in the last quarter. InTrack Investment Management Inc lifted its position in shares of Apollo Global Management by 56.2% in the third quarter. InTrack Investment Management Inc now owns 4,021 shares of the financial services provider’s stock worth $502,000 after purchasing an additional 1,447 shares in the last quarter. Perfromance Wealth Partners LLC boosted its holdings in Apollo Global Management by 211.1% during the third quarter. Perfromance Wealth Partners LLC now owns 6,222 shares of the financial services provider’s stock worth $777,000 after purchasing an additional 4,222 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Apollo Global Management by 27.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 103,879 shares of the financial services provider’s stock valued at $12,974,000 after purchasing an additional 22,053 shares in the last quarter. Finally, Gunderson Capital Management Inc. acquired a new stake in Apollo Global Management in the 3rd quarter valued at $1,471,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apollo Global Management

In related news, Director Pauline Richards purchased 2,351 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $104.92 per share, with a total value of $246,666.92. Following the completion of the purchase, the director now directly owns 85,854 shares in the company, valued at $9,007,801.68. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley raised their price objective on Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday. Bank of America upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $124.00 to $123.00 in a research note on Tuesday, August 6th. Wolfe Research assumed coverage on shares of Apollo Global Management in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 target price for the company. BMO Capital Markets upped their price target on shares of Apollo Global Management from $123.00 to $138.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Argus decreased their price objective on shares of Apollo Global Management from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.06.

Apollo Global Management Stock Performance

Shares of APO traded up $2.29 during midday trading on Friday, reaching $140.21. 2,716,659 shares of the stock were exchanged, compared to its average volume of 2,608,363. The stock’s 50 day simple moving average is $116.77 and its 200 day simple moving average is $115.81. The company has a market cap of $79.66 billion, a P/E ratio of 15.53, a PEG ratio of 1.39 and a beta of 1.62. Apollo Global Management, Inc. has a twelve month low of $77.11 and a twelve month high of $140.35. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.36.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.03). Apollo Global Management had a return on equity of 16.98% and a net margin of 21.90%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. During the same quarter last year, the firm earned $1.54 EPS. On average, sell-side analysts expect that Apollo Global Management, Inc. will post 6.66 earnings per share for the current year.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.32%. Apollo Global Management’s payout ratio is 20.49%.

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.