Rhumbline Advisers Purchases 232,298 Shares of Apollo Global Management, Inc. (NYSE:APO)

Rhumbline Advisers lifted its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 39.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 823,142 shares of the financial services provider’s stock after purchasing an additional 232,298 shares during the quarter. Rhumbline Advisers owned 0.15% of Apollo Global Management worth $135,950,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Byrne Asset Management LLC acquired a new position in shares of Apollo Global Management during the 4th quarter valued at $37,000. Retirement Wealth Solutions LLC bought a new stake in shares of Apollo Global Management in the 4th quarter worth $39,000. UMB Bank n.a. grew its stake in shares of Apollo Global Management by 447.1% in the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 228 shares in the last quarter. Versant Capital Management Inc grew its position 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 buying an additional 336 shares during the period. Finally, Y.D. More Investments Ltd bought a new position in Apollo Global Management during the fourth quarter valued at about $89,000. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $162.95 on Friday. The company’s fifty day moving average price is $167.64 and its 200 day moving average price is $146.12. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The company has a market capitalization of $92.20 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 1.28 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 Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

Wall Street Analysts Forecast Growth

APO has been the topic of several recent research reports. Citigroup upped their price objective on shares of Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. BMO Capital Markets upped their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. UBS Group upgraded shares of Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. Piper Sandler increased their target price on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group raised their price objective on shares of Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $165.74.

Insider Buying and Selling

In related 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 sale, the insider now directly owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. This represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the transaction, the chief financial officer now directly owns 377,164 shares in the company, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,600 shares of company stock valued at $34,977,528. Corporate insiders own 8.50% of the company’s stock.

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.