Hsbc Holdings PLC Buys 369,863 Shares of Apollo Global Management, Inc. (NYSE:APO)

Hsbc Holdings PLC raised its stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 149.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 617,252 shares of the financial services provider's stock after acquiring an additional 369,863 shares during the period. Hsbc Holdings PLC owned approximately 0.11% of Apollo Global Management worth $102,011,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Hopwood Financial Services Inc. purchased a new stake in Apollo Global Management in the fourth quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC bought a new position in Apollo Global Management in the fourth quarter valued at about $34,000. Byrne Asset Management LLC purchased a new position in Apollo Global Management in the fourth quarter worth about $37,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Apollo Global Management during the 4th quarter valued at about $39,000. Finally, HM Payson & Co. bought a new position in shares of Apollo Global Management in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Price Performance

Apollo Global Management stock traded up $0.21 during mid-day trading on Friday, reaching $133.53. 2,588,258 shares of the company's stock traded hands, compared to its average volume of 3,832,393. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $134.70 and a two-hundred day moving average of $153.13. The company has a market cap of $76.18 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a $0.4625 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.39%. Apollo Global Management's dividend payout ratio is currently 25.31%.

Insider Buying and Selling

In related news, insider Leon D. Black sold 500,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, the insider now directly owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This represents a 1.42 % 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.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on APO shares. Citigroup decreased their price target on shares of 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. TD Cowen decreased their price objective on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Barclays lowered their price target on shares of Apollo Global Management from $196.00 to $145.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Bank of America increased their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 4th. Finally, Morgan Stanley cut their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $156.00.

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.