Checchi Capital Advisers LLC Raises Position in Apollo Global Management, Inc. (NYSE:APO)

Checchi Capital Advisers LLC boosted its stake in Apollo Global Management, Inc. (NYSE:APO) by 1,138.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,061 shares of the financial services provider’s stock after purchasing an additional 38,664 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Apollo Global Management were worth $6,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in Apollo Global Management by 4.7% in the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after acquiring an additional 254,268 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Apollo Global Management by 42.1% in 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 last quarter. Charles Schwab Investment Management Inc. boosted its stake in Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after buying an additional 383,557 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Apollo Global Management by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock worth $167,298,000 after acquiring an additional 4,892 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Apollo Global Management by 0.4% during the third quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock valued at $147,670,000 after buying an additional 4,600 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on APO. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Citigroup boosted their target price on Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft raised their price target on Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group boosted their price objective on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, TD Cowen lifted their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.74.

Apollo Global Management Stock Down 1.6 %

Apollo Global Management stock opened at $145.48 on Wednesday. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The stock has a fifty day moving average of $164.68 and a 200 day moving average of $148.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market cap of $82.31 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.27%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Insider Activity

In related news, insider Leon D. Black sold 58,200 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total value of $10,090,134.00. Following the transaction, the insider now directly owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. The trade was a 0.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the sale, the chief financial officer now owns 320,564 shares in the company, valued at approximately $55,332,552.04. The trade was a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 201,600 shares of company stock valued at $34,977,528 in the last 90 days. Company insiders own 8.50% of the company’s stock.

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.