MetLife Investment Management LLC Raises Stock Position in Apollo Global Management, Inc. (NYSE:APO)

MetLife Investment Management LLC raised its holdings in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 408.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,826 shares of the financial services provider's stock after acquiring an additional 109,912 shares during the quarter. MetLife Investment Management LLC's holdings in Apollo Global Management were worth $22,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of APO. World Investment Advisors LLC grew its holdings in Apollo Global Management by 1.8% during the third quarter. World Investment Advisors LLC now owns 6,823 shares of the financial services provider's stock valued at $852,000 after purchasing an additional 119 shares during the period. Sfmg LLC increased its holdings in Apollo Global Management by 1.1% in the 3rd quarter. Sfmg LLC now owns 7,220 shares of the financial services provider's stock worth $902,000 after acquiring an additional 79 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Apollo Global Management during the 3rd quarter worth approximately $503,000. Versant Capital Management Inc lifted its holdings in Apollo Global Management by 203.6% during the fourth quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider's stock valued at $83,000 after purchasing an additional 336 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Apollo Global Management by 10.4% in the fourth quarter. GAMMA Investing LLC now owns 2,768 shares of the financial services provider's stock worth $457,000 after purchasing an additional 260 shares during the period. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Trading Up 3.4 %

Shares of Apollo Global Management stock traded up $4.09 on Tuesday, reaching $123.72. The company had a trading volume of 3,320,922 shares, compared to its average volume of 3,805,433. The firm's 50-day moving average price is $136.59 and its two-hundred day moving average price is $153.23. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The firm has a market cap of $70.58 billion, a price-to-earnings ratio of 16.93, 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 current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management's dividend payout ratio (DPR) is 25.31%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Piper Sandler lowered their price objective on Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley dropped their price objective 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. Wells Fargo & Company decreased their target price on Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, TD Cowen dropped their price target on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $156.00.

Insider Activity

In other news, 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 transaction, the chief financial officer now owns 377,164 shares of the company's stock, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Leon D. Black sold 500,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the sale, the insider now directly owns 34,604,773 shares of the company's stock, valued at $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.50% of the company's stock.

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.