Avanza Fonder AB Takes $4.67 Million Position in Apollo Global Management, Inc. (NYSE:APO)

Avanza Fonder AB purchased a new stake in Apollo Global Management, Inc. (NYSE:APO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,268 shares of the financial services provider's stock, valued at approximately $4,669,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Compagnie Lombard Odier SCmA purchased a new position in shares of Apollo Global Management in the 3rd quarter valued at about $35,000. Prospera Private Wealth LLC purchased a new position in shares of Apollo Global Management in the 3rd quarter valued at about $80,000. Truvestments Capital LLC purchased a new position in shares of Apollo Global Management in the 3rd quarter valued at about $83,000. Versant Capital Management Inc increased its stake in shares of Apollo Global Management by 203.6% in the 4th quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider's stock valued at $83,000 after purchasing an additional 336 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of Apollo Global Management by 14.3% in the 3rd quarter. Allworth Financial LP now owns 729 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on APO. The Goldman Sachs Group boosted their price objective on Apollo Global Management from $161.00 to $178.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Wells Fargo & Company cut their price objective on Apollo Global Management from $197.00 to $191.00 and set an "overweight" rating for the company in a research note on Tuesday. Citigroup boosted their price objective on Apollo Global Management from $162.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. BMO Capital Markets boosted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Finally, Morgan Stanley boosted their price objective on Apollo Global Management from $111.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. 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. According to data from MarketBeat, Apollo Global Management currently has an average rating of "Moderate Buy" and a consensus target price of $164.32.

Apollo Global Management Trading Up 0.5 %

Apollo Global Management stock traded up $0.89 during mid-day trading on Friday, hitting $166.81. The company's stock had a trading volume of 3,580,328 shares, compared to its average volume of 7,727,088. The firm has a market capitalization of $94.38 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.20 and a beta of 1.63. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock's fifty day moving average is $169.18 and its two-hundred day moving average is $139.69.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were given a $0.463 dividend. This represents a $1.85 annualized dividend and a yield of 1.11%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, November 18th. Apollo Global Management's dividend payout ratio is presently 19.33%.

Insider Buying and Selling

In other news, CFO Martin Kelly sold 5,000 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the transaction, the chief financial officer now directly owns 320,564 shares in the company, valued at $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Leon D. Black sold 58,200 shares of the firm's stock in a transaction 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 owns 35,104,773 shares of the company's stock, valued at approximately $6,086,114,495.01. This represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 196,600 shares of company stock worth $34,186,128. 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.