FIL Ltd Grows Position in Apollo Global Management, Inc. (NYSE:APO)

FIL Ltd raised its stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 38.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 490,217 shares of the financial services provider's stock after buying an additional 137,352 shares during the quarter. FIL Ltd owned about 0.09% of Apollo Global Management worth $80,964,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Whale Capital LLP purchased a new stake in Apollo Global Management during the fourth quarter valued at about $47,400,000. Rathbones Group PLC bought a new stake in Apollo Global Management in the 4th quarter worth approximately $248,000. Twin Capital Management Inc. bought a new stake in Apollo Global Management in the fourth quarter worth $1,065,000. Bank of Montreal Can boosted its holdings in Apollo Global Management by 35.0% during the 4th quarter. Bank of Montreal Can now owns 1,050,876 shares of the financial services provider's stock valued at $173,563,000 after acquiring an additional 272,332 shares during the period. Finally, Cerity Partners LLC grew its holdings in shares of Apollo Global Management by 2.1% in the fourth quarter. Cerity Partners LLC now owns 200,915 shares of the financial services provider's stock worth $32,839,000 after purchasing an additional 4,193 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

APO has been the subject of several research reports. Bank of America upped their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 4th. Raymond James initiated coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 target price on the stock. Keefe, Bruyette & Woods lowered 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 report on Wednesday, February 5th. Wells Fargo & Company decreased their target price on shares of Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup dropped their price target on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $156.00.

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Insider Activity at Apollo Global Management

In related news, insider Lb 2018 Gst Trust bought 607,725 shares of the stock in a transaction that occurred 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 directly owns 621,754 shares of the company's stock, valued at $69,257,178.06. This trade represents a 4,331.92 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Trading Up 2.8 %

Shares of Apollo Global Management stock traded up $3.50 during trading hours on Tuesday, hitting $129.02. The company's stock had a trading volume of 1,255,477 shares, compared to its average volume of 3,768,182. The stock has a market cap of $73.60 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 1.17 and a beta of 1.66. 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 twelve month low of $95.11 and a twelve month high of $189.49. The firm has a fifty day moving average of $140.87 and a 200-day moving average of $153.65.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management's payout ratio is 25.31%.

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.