Geode Capital Management LLC Boosts Stake in Apollo Global Management, Inc. (NYSE:APO)

Geode Capital Management LLC boosted its position in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 64.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,413,245 shares of the financial services provider's stock after purchasing an additional 3,695,979 shares during the quarter. Geode Capital Management LLC owned about 1.66% of Apollo Global Management worth $1,550,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake 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 buying an additional 3,691,700 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Apollo Global Management by 60.6% during 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 acquiring an additional 1,094,464 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 purchasing an additional 782,700 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Apollo Global Management by 15,187.7% in the fourth quarter. Proficio Capital Partners LLC now owns 639,027 shares of the financial services provider's stock worth $105,542,000 after purchasing an additional 634,847 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Apollo Global Management by 813.6% in the fourth quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider's stock valued at $89,646,000 after purchasing an additional 483,369 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Remove Ads

Apollo Global Management Stock Down 12.3 %

Shares of APO traded down $15.23 on Friday, reaching $108.22. The stock had a trading volume of 13,257,729 shares, compared to its average volume of 3,631,760. 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 firm has a market capitalization of $61.74 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The company has a 50-day simple moving average of $148.49 and a 200-day simple moving average of $153.82.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management's dividend payout ratio is 25.31%.

Analyst Upgrades and Downgrades

A number of research firms have commented on APO. Keefe, Bruyette & Woods cut their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. StockNews.com lowered shares of Apollo Global Management from a "hold" rating to a "sell" rating in a research report on Tuesday, December 10th. Bank of America raised their price target on Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research report on Friday. BMO Capital Markets upped their price objective on Apollo Global Management from $157.00 to $186.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Finally, TD Cowen increased their price objective on Apollo Global Management from $178.00 to $230.00 and gave the company a "buy" rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $168.26.

Insider Activity

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Thursday, February 13th. The stock was 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 approximately $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was 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 in the company, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.