Hartford Investment Management Co. Purchases Shares of 27,683 Apollo Global Management, Inc. (NYSE:APO)

Hartford Investment Management Co. purchased a new position in Apollo Global Management, Inc. (NYSE:APO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,683 shares of the financial services provider's stock, valued at approximately $4,572,000.

Several other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its holdings in Apollo Global Management by 27.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider's stock valued at $225,600,000 after buying an additional 383,557 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Apollo Global Management by 12,086.7% during the third quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider's stock valued at $462,460,000 after acquiring an additional 367,195 shares during the last quarter. Holocene Advisors LP boosted its holdings in shares of Apollo Global Management by 530.9% during the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider's stock worth $50,242,000 after purchasing an additional 338,472 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Apollo Global Management by 4.7% during the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider's stock worth $713,230,000 after purchasing an additional 254,268 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Apollo Global Management by 43.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 767,014 shares of the financial services provider's stock worth $95,808,000 after purchasing an additional 233,670 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Stock Up 3.2 %

NYSE APO traded up $5.03 during mid-day trading on Friday, reaching $162.95. The stock had a trading volume of 2,665,760 shares, compared to its average volume of 3,235,579. The stock has a market cap of $92.20 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 1.28 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 company has a fifty day moving average price of $167.64 and a 200 day moving average price of $146.27.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.4625 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.14%. Apollo Global Management's payout ratio is 25.31%.

Wall Street Analyst Weigh In

APO has been the topic of several recent analyst reports. Wells Fargo & Company cut their price target on shares of Apollo Global Management from $191.00 to $187.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Citigroup raised their price objective on shares of Apollo Global Management from $162.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Morgan Stanley upped their target price on 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, UBS Group upgraded Apollo Global Management to a "hold" rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Apollo Global Management presently has an average rating of "Moderate Buy" and a consensus price target of $165.74.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the sale, the chief financial officer now owns 320,564 shares in the company, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon D. Black sold 58,200 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the completion of the transaction, the insider now directly owns 35,104,773 shares in the company, valued at approximately $6,086,114,495.01. This represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 201,600 shares of company stock worth $34,977,528 over the last quarter. Company insiders own 8.50% of the company's stock.

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.