Forsta AP Fonden Has $22.33 Million Position in Apollo Global Management, Inc. (NYSE:APO)

Forsta AP Fonden cut its position in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 135,200 shares of the financial services provider's stock after selling 8,400 shares during the quarter. Forsta AP Fonden's holdings in Apollo Global Management were worth $22,330,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Compagnie Lombard Odier SCmA purchased a new stake in shares of Apollo Global Management in the third quarter worth approximately $35,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Apollo Global Management in the fourth quarter worth approximately $39,000. UMB Bank n.a. lifted its position in shares of Apollo Global Management by 447.1% in the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider's stock worth $46,000 after purchasing an additional 228 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Apollo Global Management in the third quarter worth approximately $80,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Apollo Global Management in the third quarter worth approximately $83,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

APO stock traded up $1.87 during midday trading on Wednesday, hitting $171.18. The stock had a trading volume of 2,735,129 shares, compared to its average volume of 3,441,245. The firm has a market capitalization of $96.86 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 1.36 and a beta of 1.63. The stock has a 50-day simple moving average of $169.74 and a 200 day simple moving average of $142.44. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were issued a $0.463 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.08%. This is a boost 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 payout ratio is currently 19.33%.

Analysts Set New Price Targets

A number of research firms recently commented on APO. Citigroup increased their price objective on Apollo Global Management from $162.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft increased their price objective on Apollo Global Management from $141.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. BMO Capital Markets increased their price target on Apollo Global Management from $157.00 to $186.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Piper Sandler increased their price target on Apollo Global Management from $188.00 to $202.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Finally, Evercore ISI increased their price target on Apollo Global Management from $150.00 to $174.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $164.32.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 58,200 shares of Apollo Global Management stock in a transaction dated 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 completion of the sale, the insider now directly owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This trade represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the sale, the chief financial officer now owns 320,564 shares of the company's stock, valued at approximately $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 valued at $34,186,128 over the last ninety days. 8.50% of the stock is owned by insiders.

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.