Apollo Global Management Inc. $APO Position Lifted by Ethic Inc.

Ethic Inc. lifted its position in shares of Apollo Global Management Inc. (NYSE:APO) by 19.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,942 shares of the financial services provider’s stock after purchasing an additional 8,650 shares during the quarter. Ethic Inc.’s holdings in Apollo Global Management were worth $5,908,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Apollo Global Management by 4.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider’s stock worth $669,372,000 after acquiring an additional 234,517 shares in the last quarter. Legal & General Group Plc bought a new stake in Apollo Global Management during the second quarter worth about $459,987,000. Bank of New York Mellon Corp bought a new stake in Apollo Global Management during the second quarter worth about $336,644,000. Temasek Holdings Private Ltd grew its holdings in Apollo Global Management by 214.4% in the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock worth $263,861,000 after purchasing an additional 1,614,813 shares during the period. Finally, Curated Wealth Partners LLC grew its holdings in Apollo Global Management by 91.8% in the third quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider’s stock worth $255,887,000 after purchasing an additional 1,055,818 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. The trade was a 0.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Whitney Chatterjee sold 7,339 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $117.83, for a total transaction of $864,754.37. Following the completion of the transaction, the insider owned 129,151 shares of the company’s stock, valued at approximately $15,217,862.33. The trade was a 5.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 8.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APO. Argus decreased their target price on shares of Apollo Global Management from $160.00 to $140.00 and set a “buy” rating for the company in a research note on Friday. BMO Capital Markets dropped their price target on Apollo Global Management from $134.00 to $124.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 27th. Rothschild & Co Redburn upped their price target on Apollo Global Management from $171.00 to $173.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. UBS Group reduced their price objective on Apollo Global Management from $163.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. Finally, Barclays lowered their price objective on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating for the company in a research note on Wednesday, November 4th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.21.

Apollo Global Management Stock Up 4.7%

Shares of Apollo Global Management stock opened at $122.24 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.41. The stock has a market capitalization of $72.19 billion, a PE ratio of -66.80, a price-to-earnings-growth ratio of 1.13 and a beta of 1.51. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. The company has a 50-day simple moving average of $120.53 and a two-hundred day simple moving average of $122.86.

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Wednesday, November 18th will be given a dividend of $0.5625 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $2.25 annualized dividend and a dividend yield of 1.8%. Apollo Global Management’s dividend payout ratio (DPR) is -122.95%.

About Apollo Global Management

Apollo Global Management is a global alternative asset manager that provides investment management and retirement services. Its investment strategies span private equity, credit and real assets, including infrastructure, and it serves institutional and individual investors.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan. It has since expanded its investment businesses and retirement-services operations, including through Athene, its retirement services platform.

Apollo operates across global markets and is led by co-founder Marc Rowan, who serves as chief executive officer.