Price T Rowe Associates Inc. MD Buys 1,739,807 Shares of Apollo Global Management, Inc. (NYSE:APO)

Price T Rowe Associates Inc. MD raised its position in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 36.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,452,004 shares of the financial services provider's stock after acquiring an additional 1,739,807 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.14% of Apollo Global Management worth $1,065,615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new position in shares of Apollo Global Management in the fourth quarter worth approximately $33,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Apollo Global Management during the 4th quarter valued at $34,000. Byrne Asset Management LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter worth $37,000. Retirement Wealth Solutions LLC bought a new position in Apollo Global Management in the 4th quarter worth $39,000. Finally, HM Payson & Co. purchased a new position in Apollo Global Management during the fourth quarter valued at $45,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Martin Kelly sold 5,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares of the company's stock, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Leon D. Black sold 500,000 shares of the business'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 completion of the sale, the insider now directly owns 34,604,773 shares of the company's stock, valued at approximately $4,913,877,766. This trade 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.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APO. Morgan Stanley lowered their price objective on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Raymond James initiated coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price objective for the company. Barclays dropped their target price on shares of Apollo Global Management from $196.00 to $145.00 and set an "overweight" rating for the company in a report on Monday, April 7th. Wells Fargo & Company decreased their price target on Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods dropped their price objective on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. 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.com, Apollo Global Management currently has an average rating of "Moderate Buy" and an average target price of $156.00.

Apollo Global Management Trading Up 2.2 %

Shares of NYSE:APO traded up $2.96 during trading on Monday, hitting $136.36. The company had a trading volume of 2,924,350 shares, compared to its average volume of 3,828,762. The company has a fifty day simple moving average of $134.70 and a two-hundred day simple moving average of $153.23. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The stock has a market cap of $77.79 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth 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 1.36%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management's dividend payout ratio (DPR) is 25.31%.

Apollo Global Management 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.