Legal & General Group Plc Sells 803,893 Shares of Apollo Global Management, Inc. (NYSE:APO)

Legal & General Group Plc lowered its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 19.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,415,367 shares of the financial services provider’s stock after selling 803,893 shares during the period. Legal & General Group Plc owned 0.60% of Apollo Global Management worth $564,082,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 3,691,700 shares during the period. Geode Capital Management LLC increased its holdings in shares of Apollo Global Management by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock valued at $1,550,316,000 after purchasing an additional 3,695,979 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position 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 purchasing an additional 1,094,464 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Apollo Global Management by 245.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock worth $438,196,000 after buying an additional 1,886,146 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Apollo Global Management by 42.1% during the 4th 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.

Analysts Set New Price Targets

APO has been the topic of several research analyst reports. Wells Fargo & Company lowered 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 report on Thursday, March 20th. Bank of America lifted their price target on Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler decreased their price objective on Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Morgan Stanley lifted their target price on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Finally, StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $165.37.

Apollo Global Management Stock Up 3.1 %

APO stock opened at $112.06 on Tuesday. The stock has a market capitalization of $63.93 billion, a P/E ratio of 15.33, a price-to-earnings-growth 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 firm has a 50-day moving average price of $147.39 and a 200-day moving average price of $154.01. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49.

Apollo Global Management Cuts Dividend

The business 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 of this dividend was Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.65%. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

Insider Activity

In other news, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was 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 owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares in the company, valued at approximately $59,697,517.92. This represents 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 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.