Intech Investment Management LLC trimmed its holdings in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 27.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,693 shares of the financial services provider's stock after selling 8,117 shares during the period. Intech Investment Management LLC's holdings in Apollo Global Management were worth $2,710,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in shares of Apollo Global Management by 3.0% during the second quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider's stock valued at $517,527,000 after purchasing an additional 126,859 shares during the period. TD Asset Management Inc lifted its holdings in Apollo Global Management by 3.8% in the 2nd quarter. TD Asset Management Inc now owns 2,697,739 shares of the financial services provider's stock worth $318,522,000 after buying an additional 97,797 shares in the last quarter. Curated Wealth Partners LLC boosted its position in Apollo Global Management by 200.3% in the 2nd quarter. Curated Wealth Partners LLC now owns 2,362,535 shares of the financial services provider's stock valued at $278,945,000 after buying an additional 4,717,661 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of Apollo Global Management by 2.9% during the second quarter. 1832 Asset Management L.P. now owns 1,294,530 shares of the financial services provider's stock valued at $152,845,000 after acquiring an additional 37,070 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Apollo Global Management by 0.4% during the third quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider's stock valued at $147,670,000 after acquiring an additional 4,600 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.
Apollo Global Management Stock Performance
Shares of NYSE APO traded up $2.54 during midday trading on Friday, hitting $167.56. 3,970,563 shares of the company's stock were exchanged, compared to its average volume of 3,715,105. Apollo Global Management, Inc. has a twelve month low of $88.58 and a twelve month high of $169.58. The firm has a market cap of $94.81 billion, a P/E ratio of 17.51, a PEG ratio of 1.70 and a beta of 1.59. The stock's 50 day moving average price is $143.02 and its 200-day moving average price is $124.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.
Apollo Global Management Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a $0.463 dividend. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date is Monday, November 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.11%. Apollo Global Management's dividend payout ratio is presently 19.33%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on APO shares. Evercore ISI raised their price objective on Apollo Global Management from $150.00 to $174.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Citigroup upped their price target on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 2nd. UBS Group upgraded Apollo Global Management to a "hold" rating in a research note on Wednesday, November 13th. Finally, Redburn Partners assumed coverage on Apollo Global Management in a report on Tuesday, August 27th. They set a "buy" rating and a $153.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, Apollo Global Management currently has an average rating of "Moderate Buy" and an average price target of $155.05.
Check Out Our Latest Research Report on APO
About Apollo Global Management
(
Free Report)
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.
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