Apollo Global Management, Inc. (NYSE:APO) Shares Acquired by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. increased its position in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 324.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 339,390 shares of the financial services provider's stock after purchasing an additional 259,390 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.06% of Apollo Global Management worth $56,054,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Tenere Capital LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter worth approximately $10,157,000. MGO One Seven LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter worth approximately $2,790,000. Pinebridge Investments L.P. purchased a new stake in shares of Apollo Global Management during the fourth quarter worth approximately $810,000. Price T Rowe Associates Inc. MD increased its position in shares of Apollo Global Management by 36.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock worth $1,065,615,000 after purchasing an additional 1,739,807 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Apollo Global Management by 149.5% during the fourth quarter. Hsbc Holdings PLC now owns 617,252 shares of the financial services provider's stock worth $102,011,000 after purchasing an additional 369,863 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Trading Down 0.1 %

Apollo Global Management stock traded down $0.08 during midday trading on Tuesday, reaching $136.28. 1,061,167 shares of the stock traded hands, compared to its average volume of 3,818,134. The company has a 50-day simple moving average of $134.23 and a two-hundred day simple moving average of $153.21. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The firm has a market cap of $77.74 billion, a PE ratio of 18.58, 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.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management's dividend payout ratio (DPR) is 25.31%.

Insider Activity at Apollo Global Management

In related news, insider Lb 2018 Gst Trust purchased 607,725 shares of Apollo Global Management stock in a transaction on Friday, April 4th. The shares were bought at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the transaction, the insider now directly owns 621,754 shares of the company's stock, valued at approximately $69,257,178.06. This trade 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 can be accessed through the SEC website. Also, 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 value of $791,400.00. Following the completion of the sale, the chief financial officer now directly owns 377,164 shares in the company, valued at $59,697,517.92. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company cut their target price on Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Piper Sandler cut their target price on Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Morgan Stanley cut their target price on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Raymond James assumed coverage on Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 target price for the company. Finally, Citigroup cut their target price on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apollo Global Management presently has an average rating of "Moderate Buy" and an average price target of $156.00.

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.