Edgewood Management LLC Grows Stake in Apollo Global Management, Inc. (NYSE:APO)

Edgewood Management LLC lifted its position in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 231.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,000 shares of the financial services provider's stock after acquiring an additional 37,000 shares during the period. Edgewood Management LLC's holdings in Apollo Global Management were worth $8,753,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Apollo Global Management by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock worth $1,550,316,000 after acquiring an additional 3,695,979 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 3,691,700 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Apollo Global Management by 245.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock worth $438,196,000 after purchasing an additional 1,886,146 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Apollo Global Management by 60.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider's stock worth $479,057,000 after buying an additional 1,094,464 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Apollo Global Management by 42.1% in the 4th 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 buying an additional 782,700 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on APO shares. Citigroup dropped their target price on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a report on Tuesday. Piper Sandler lowered their price target on Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Bank of America increased their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 4th. Morgan Stanley lifted their target price 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. Finally, Raymond James assumed coverage on shares of Apollo Global Management in a research note on Thursday. They issued a "strong-buy" rating and a $173.00 target price on the stock. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $157.95.

Apollo Global Management Stock Performance

APO stock traded down $1.34 during midday trading on Friday, reaching $122.59. 2,954,077 shares of the company's stock traded hands, compared to its average volume of 3,750,518. The stock's 50-day moving average is $142.41 and its 200 day moving average is $153.44. The stock has a market cap of $69.93 billion, a P/E ratio of 16.69, a PEG ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week 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.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a $0.4625 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.51%. Apollo Global Management's dividend payout ratio is currently 25.31%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lb 2018 Gst Trust bought 607,725 shares of the company's stock in a transaction that occurred 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 owns 621,754 shares of the company's stock, valued at $69,257,178.06. The trade was a 4,331.92 % increase in their position. The disclosure for this purchase can be found here. 8.50% of the stock is owned by company insiders.

Apollo Global Management Company 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.