Farringdon Capital Ltd. Acquires New Position in Apollo Global Management, Inc. (NYSE:APO)

Farringdon Capital Ltd. acquired a new position in Apollo Global Management, Inc. (NYSE:APO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,923 shares of the financial services provider's stock, valued at approximately $648,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kestra Private Wealth Services LLC bought a new stake in Apollo Global Management during the 4th quarter valued at approximately $3,994,000. Fortress Financial Solutions LLC bought a new position in Apollo Global Management in the fourth quarter worth $685,000. Leavell Investment Management Inc. boosted its holdings in shares of Apollo Global Management by 39.8% during the 4th quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider's stock valued at $1,016,000 after buying an additional 1,750 shares in the last quarter. Amundi grew its position in shares of Apollo Global Management by 13.2% in the 4th quarter. Amundi now owns 801,260 shares of the financial services provider's stock worth $129,788,000 after buying an additional 93,451 shares during the period. Finally, State of Michigan Retirement System purchased a new position in Apollo Global Management during the 4th quarter valued at about $20,034,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Martin Kelly sold 5,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the transaction, the chief financial officer now directly owns 377,164 shares in the company, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the firm's stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock traded up $4.06 on Tuesday, hitting $123.69. 861,045 shares of the company's stock were exchanged, compared to its average volume of 4,160,641. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $70.56 billion, a PE ratio of 16.92, a PEG ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The company has a 50-day simple moving average of $137.28 and a 200-day simple moving average of $153.44.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management's payout ratio is 25.31%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on APO shares. Piper Sandler lowered their target price on shares of Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Bank of America boosted their target price on Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 4th. Keefe, Bruyette & Woods reduced their price target on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Citigroup reduced their price objective on shares of 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. Finally, Raymond James started coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average price target of $156.00.

Apollo Global Management 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.