Factory Mutual Insurance Co. Sells 70,000 Shares of Apollo Global Management, Inc. (NYSE:APO)

Factory Mutual Insurance Co. lessened its stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 49.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,600 shares of the financial services provider's stock after selling 70,000 shares during the period. Factory Mutual Insurance Co.'s holdings in Apollo Global Management were worth $11,660,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Retirement Wealth Solutions LLC bought a new stake in Apollo Global Management during the fourth quarter worth about $39,000. UMB Bank n.a. increased its position in Apollo Global Management by 447.1% during the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider's stock worth $46,000 after buying an additional 228 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new position in Apollo Global Management during the third quarter worth approximately $35,000. Versant Capital Management Inc increased its position in Apollo Global Management by 203.6% during the fourth quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider's stock worth $83,000 after buying an additional 336 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in Apollo Global Management during the fourth quarter worth approximately $97,000. Institutional investors own 77.06% of the company's stock.

Insiders Place Their Bets

In other Apollo Global Management news, insider Leon D. Black sold 58,200 shares of the company's stock in a transaction on Wednesday, December 4th. The stock was 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 $6,086,114,495.01. This represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now owns 320,564 shares of the company's stock, valued at $55,332,552.04. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 196,600 shares of company stock worth $34,186,128 over the last three months. Insiders own 8.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APO. Piper Sandler boosted their price target on Apollo Global Management from $188.00 to $202.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their price target on Apollo Global Management from $141.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods boosted their price target on Apollo Global Management from $168.00 to $196.00 and gave the stock an "outperform" rating in a research report on Friday, December 20th. Evercore ISI boosted their price target on Apollo Global Management from $150.00 to $174.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Finally, Citigroup upped their target price on Apollo Global Management from $162.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.32.

Apollo Global Management Trading Down 0.4 %

Shares of NYSE:APO opened at $171.00 on Friday. The company has a market capitalization of $96.75 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.37 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 debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The business's 50 day simple moving average is $170.11 and its 200 day simple moving average is $143.18.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were paid a dividend of $0.463 per share. The ex-dividend date of this dividend was Monday, November 18th. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a yield of 1.08%. Apollo Global Management's dividend payout ratio is presently 19.33%.

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.

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