State of Tennessee Department of Treasury Takes $12.60 Million Position in Apollo Global Management, Inc. (NYSE:APO)

State of Tennessee Department of Treasury bought a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 76,293 shares of the financial services provider’s stock, valued at approximately $12,601,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Apollo Global Management by 8.9% during the fourth 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 lifted its position in shares of Apollo Global Management by 64.6% during the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock worth $1,550,316,000 after buying an additional 3,695,979 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Apollo Global Management by 60.6% in the 4th 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 in the last quarter. Massachusetts Financial Services Co. MA grew its position 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 acquiring an additional 1,886,146 shares during the period. Finally, Bank of New York Mellon Corp raised its stake 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 in the last quarter. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

APO has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. TD Cowen decreased their price objective on shares of Apollo Global Management from $214.00 to $144.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Bank of America lifted their target price on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 4th. Piper Sandler decreased their price target on Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Finally, Barclays cut their price objective on Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average price target of $156.00.

Insider Transactions at Apollo Global Management

In related news, insider Lb 2018 Gst Trust bought 607,725 shares of Apollo Global Management stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the completion of the acquisition, the insider now owns 621,754 shares in the company, valued at approximately $69,257,178.06. This represents a 4,331.92 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the insider now directly owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. This trade represents a 1.42 % 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 3.4 %

APO opened at $123.72 on Wednesday. The firm has a 50 day simple moving average of $136.59 and a 200 day simple moving average of $153.23. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The company has a market cap of $70.58 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. 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 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 paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 25.31%.

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.