Nomura Asset Management Co. Ltd. Increases Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Nomura Asset Management Co. Ltd. grew its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 100.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 219,118 shares of the financial services provider’s stock after purchasing an additional 109,961 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Apollo Global Management were worth $27,370,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new position in shares of Apollo Global Management during the second quarter worth approximately $62,972,000. Marshall Wace LLP grew its position in Apollo Global Management by 74.5% during the 2nd quarter. Marshall Wace LLP now owns 955,673 shares of the financial services provider’s stock worth $112,836,000 after purchasing an additional 408,105 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after purchasing an additional 383,557 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Apollo Global Management by 12,086.7% in the third quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock valued at $462,460,000 after buying an additional 367,195 shares during the last quarter. Finally, Holocene Advisors LP boosted its stake in shares of Apollo Global Management by 530.9% during the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock worth $50,242,000 after buying an additional 338,472 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

APO has been the subject of several analyst reports. BMO Capital Markets upped their price target on Apollo Global Management from $138.00 to $157.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods raised their target price on shares of Apollo Global Management from $159.00 to $168.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Redburn Atlantic started coverage on shares of Apollo Global Management in a report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. Wolfe Research started coverage on shares of Apollo Global Management in a report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their target price on Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. One research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $159.16.

Apollo Global Management Stock Up 1.3 %

Shares of NYSE APO opened at $174.79 on Wednesday. The firm has a market cap of $98.90 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 1.84 and a beta of 1.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. Apollo Global Management, Inc. has a 1 year low of $89.76 and a 1 year high of $189.49. The firm’s 50 day moving average price is $155.27 and its 200 day moving average price is $129.81.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were given a dividend of $0.463 per share. The ex-dividend date was Monday, November 18th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 annualized dividend and a yield of 1.06%. Apollo Global Management’s dividend payout ratio is 19.33%.

Insiders Place Their Bets

In related news, insider Leon D. Black sold 58,200 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the completion of the sale, the insider now directly owns 35,104,773 shares in the company, valued at approximately $6,086,114,495.01. The trade was a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the transaction, the chief financial officer now directly owns 320,564 shares in the company, valued at approximately $55,332,552.04. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 196,600 shares of company stock valued at $34,186,128. 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.