Principal Financial Group Inc. Boosts Holdings in Apollo Global Management, Inc. (NYSE:APO)

Principal Financial Group Inc. lifted its position in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 813.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 542,780 shares of the financial services provider's stock after purchasing an additional 483,369 shares during the quarter. Principal Financial Group Inc. owned about 0.10% of Apollo Global Management worth $89,646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Creative Planning raised its stake in shares of Apollo Global Management by 5.9% in the third quarter. Creative Planning now owns 41,784 shares of the financial services provider's stock worth $5,219,000 after purchasing an additional 2,316 shares during the last quarter. Blue Trust Inc. lifted its holdings in Apollo Global Management by 230.7% in the third quarter. Blue Trust Inc. now owns 3,208 shares of the financial services provider's stock valued at $379,000 after acquiring an additional 2,238 shares during the period. Cyndeo Wealth Partners LLC increased its position in shares of Apollo Global Management by 3.0% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,687 shares of the financial services provider's stock valued at $336,000 after purchasing an additional 77 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Apollo Global Management by 751.5% during the third quarter. Sequoia Financial Advisors LLC now owns 28,978 shares of the financial services provider's stock valued at $3,620,000 after buying an additional 25,575 shares during the period. Finally, Sierra Capital LLC raised its position in Apollo Global Management by 113.4% in the third quarter. Sierra Capital LLC now owns 34,655 shares of the financial services provider's stock worth $4,329,000 after acquiring an additional 18,412 shares during the period. Institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Down 2.1 %

APO stock traded down $3.39 on Thursday, hitting $156.88. 3,566,984 shares of the company's stock were exchanged, compared to its average volume of 3,266,039. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market cap of $88.77 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.63. The firm has a 50 day moving average price of $166.42 and a two-hundred day moving average price of $147.17. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.4625 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.18%. Apollo Global Management's payout ratio is 25.31%.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the sale, the chief financial officer now owns 377,164 shares of the company's stock, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Leon D. Black sold 58,200 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the completion of the transaction, the insider now owns 35,104,773 shares in the company, valued at approximately $6,086,114,495.01. This trade represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,600 shares of company stock valued at $34,977,528. Insiders own 8.50% of the company's stock.

Wall Street Analyst Weigh In

APO has been the subject of a number of analyst reports. UBS Group upgraded Apollo Global Management to a "hold" rating in a research report on Wednesday, November 13th. Evercore ISI boosted their price objective on Apollo Global Management from $150.00 to $174.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. The Goldman Sachs Group lifted their price objective on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Morgan Stanley boosted their target price on Apollo Global Management from $169.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. Finally, Citigroup increased their price objective on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Apollo Global Management currently has an average rating of "Moderate Buy" and a consensus target price of $165.74.

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.