Brown Brothers Harriman & Co. Buys 333 Shares of Apollo Global Management, Inc. (NYSE:APO)

Brown Brothers Harriman & Co. raised its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 13.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,826 shares of the financial services provider’s stock after acquiring an additional 333 shares during the period. Brown Brothers Harriman & Co.’s holdings in Apollo Global Management were worth $467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kestra Private Wealth Services LLC bought a new stake in shares of Apollo Global Management during the fourth quarter valued at approximately $3,994,000. Fortress Financial Solutions LLC bought a new stake in shares of Apollo Global Management during the 4th quarter valued at $685,000. Leavell Investment Management Inc. boosted its holdings in shares of Apollo Global Management by 39.8% during the 4th quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock valued at $1,016,000 after buying an additional 1,750 shares in the last quarter. State of Michigan Retirement System purchased a new stake in shares of Apollo Global Management in the 4th quarter worth about $20,034,000. Finally, Amundi increased its stake in shares of Apollo Global Management by 13.2% in the 4th quarter. Amundi now owns 801,260 shares of the financial services provider’s stock worth $129,788,000 after acquiring an additional 93,451 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management 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 owns 377,164 shares in the company, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares of the company’s stock, valued at $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. Corporate insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

APO stock opened at $137.08 on Tuesday. 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, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The company has a market cap of $78.20 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The stock’s fifty day moving average price is $151.87 and its 200-day moving average price is $153.76.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.4625 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.35%. Apollo Global Management’s payout ratio is 25.31%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. BMO Capital Markets raised their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 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 report on Tuesday, February 11th. Finally, TD Cowen raised their price target on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.21.

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.