Chevy Chase Trust Holdings LLC Makes New Investment in Apollo Global Management, Inc. (NYSE:APO)

Chevy Chase Trust Holdings LLC purchased a new stake in Apollo Global Management, Inc. (NYSE:APO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 235,321 shares of the financial services provider's stock, valued at approximately $38,866,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of APO. Chicago Capital LLC lifted its position in shares of Apollo Global Management by 1.2% during the 3rd quarter. Chicago Capital LLC now owns 5,675 shares of the financial services provider's stock valued at $709,000 after acquiring an additional 69 shares during the period. Menard Financial Group LLC boosted its position in shares of Apollo Global Management by 1.2% during the 3rd quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider's stock worth $720,000 after purchasing an additional 71 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its position in shares of Apollo Global Management by 3.0% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,687 shares of the financial services provider's stock worth $336,000 after purchasing an additional 77 shares in the last quarter. Sfmg LLC grew its stake in shares of Apollo Global Management by 1.1% in the 3rd quarter. Sfmg LLC now owns 7,220 shares of the financial services provider's stock valued at $902,000 after buying an additional 79 shares during the period. Finally, Cigna Investments Inc. New increased its position in Apollo Global Management by 1.8% in the 3rd quarter. Cigna Investments Inc. New now owns 5,166 shares of the financial services provider's stock valued at $645,000 after buying an additional 90 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on APO shares. The Goldman Sachs Group raised their price objective on Apollo Global Management from $161.00 to $178.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. TD Cowen lifted their price target on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Morgan Stanley upped their price objective on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. StockNews.com cut shares of Apollo Global Management from a "hold" rating to a "sell" rating in a report on Tuesday, December 10th. Finally, Wells Fargo & Company lowered their target price on shares of Apollo Global Management from $191.00 to $187.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, Apollo Global Management has a consensus rating of "Moderate Buy" and an average price target of $165.74.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Leon D. Black sold 58,200 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the completion of the sale, the insider now directly owns 35,104,773 shares in the company, valued at approximately $6,086,114,495.01. This trade represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 201,600 shares of company stock valued at $34,977,528 over the last ninety days. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Stock Performance

APO traded down $0.38 during midday trading on Tuesday, reaching $161.97. The company had a trading volume of 2,476,279 shares, compared to its average volume of 3,243,435. The business has a 50-day moving average price of $167.45 and a two-hundred day moving average price of $146.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The stock has a market cap of $91.65 billion, a PE ratio of 22.16, a P/E/G ratio of 1.28 and a beta of 1.63.

Apollo Global Management Cuts Dividend

The company also recently disclosed 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. This represents a $1.85 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Tuesday, February 18th. Apollo Global Management's dividend payout ratio (DPR) is 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.