Resona Asset Management Co. Ltd. Purchases New Position in Apollo Global Management, Inc. (NYSE:APO)

Resona Asset Management Co. Ltd. acquired a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 116,869 shares of the financial services provider’s stock, valued at approximately $19,388,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Apollo Global Management by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock worth $1,550,316,000 after acquiring an additional 3,695,979 shares during the last quarter. Vanguard Group Inc. grew its position in Apollo Global Management by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock worth $7,454,560,000 after purchasing an additional 3,691,700 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Apollo Global Management by 245.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock valued at $438,196,000 after purchasing an additional 1,886,146 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Apollo Global Management by 60.6% in 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 last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 buying an additional 782,700 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 news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction on 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 $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Leon D. Black sold 500,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the subject of several analyst reports. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Wells Fargo & Company cut their price target on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Morgan Stanley lifted their price objective on shares of 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. Bank of America upped their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barclays boosted their price target 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $168.26.

Apollo Global Management Trading Down 12.3 %

Shares of APO stock opened at $108.22 on Friday. The stock has a market cap of $61.74 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.17 and a beta of 1.66. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The business has a fifty day simple moving average of $148.49 and a 200-day simple moving average of $153.82.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s 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.