Overbrook Management Corp Acquires New Position in Apollo Global Management, Inc. (NYSE:APO)

Overbrook Management Corp bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, HoldingsChannel reports. The firm bought 64,114 shares of the financial services provider’s stock, valued at approximately $10,589,000. Apollo Global Management makes up about 2.3% of Overbrook Management Corp’s holdings, making the stock its 18th biggest holding.

Several other hedge funds also recently made changes to their positions in APO. Partners Group Holding AG grew its position in shares of Apollo Global Management by 26.5% during the 3rd quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock valued at $96,896,000 after buying an additional 162,678 shares during the last quarter. Swedbank AB grew its holdings in shares of Apollo Global Management by 50.9% during the third quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock valued at $9,735,000 after purchasing an additional 26,300 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Apollo Global Management by 34.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock worth $2,428,000 after purchasing an additional 4,941 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Apollo Global Management by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after purchasing an additional 254,268 shares during the last quarter. Finally, Swiss National Bank grew its stake in Apollo Global Management by 0.4% during the 3rd quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock worth $147,670,000 after buying an additional 4,600 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity

In other news, insider Leon D. Black sold 58,200 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the transaction, the insider now owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This represents a 0.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares in the company, valued at $55,332,552.04. This represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 196,600 shares of company stock worth $34,186,128 over the last quarter. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Trading Up 0.5 %

NYSE:APO opened at $166.81 on Monday. The stock has a fifty day simple moving average of $169.18 and a 200 day simple moving average of $139.96. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $94.38 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 1.20 and a beta of 1.63. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a dividend of $0.463 per share. The ex-dividend date was Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.11%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is currently 19.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APO. JPMorgan Chase & Co. boosted their price target on shares of Apollo Global Management from $129.00 to $143.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Barclays lifted their price target on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. UBS Group raised Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. TD Cowen lifted their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Piper Sandler increased their price target on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.32.

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.