Taika Capital LP Buys New Stake in Apollo Global Management, Inc. (NYSE:APO)

Taika Capital LP bought a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,220 shares of the financial services provider’s stock, valued at approximately $367,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APO. Charles Schwab Investment Management Inc. lifted its position in 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 purchasing an additional 1,094,464 shares during the period. Bank of New York Mellon Corp increased its holdings in Apollo Global Management by 42.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock valued at $436,148,000 after buying an additional 782,700 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in Apollo Global Management by 15,187.7% in the fourth quarter. Proficio Capital Partners LLC now owns 639,027 shares of the financial services provider’s stock valued at $105,542,000 after buying an additional 634,847 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Apollo Global Management by 813.6% in the fourth quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock valued at $89,646,000 after buying an additional 483,369 shares in the last quarter. Finally, Holocene Advisors LP increased its holdings in Apollo Global Management by 530.9% in the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock valued at $50,242,000 after buying an additional 338,472 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Stock Down 1.6 %

Shares of NYSE APO opened at $132.63 on Monday. 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 $75.66 billion, a PE ratio of 18.14, a P/E/G ratio of 1.17 and a beta of 1.66. 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 of $159.88 and a 200 day moving average of $150.64.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.39%. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Cowen lifted 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. The Goldman Sachs Group lifted their price objective on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company cut their price objective on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. UBS Group raised shares of Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. Finally, Barclays boosted their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $165.74.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.50% of the stock is owned by corporate insiders.

About Apollo Global Management

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.