OFI Invest Asset Management Takes $1.88 Million Position in Apollo Global Management, Inc. (NYSE:APO)

OFI Invest Asset Management bought a new stake in Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, HoldingsChannel reports. The firm bought 11,779 shares of the financial services provider’s stock, valued at approximately $1,879,000.

A number of other institutional investors have also modified their holdings of APO. Coordinated Financial Services Inc. acquired a new stake in Apollo Global Management during the fourth quarter worth about $473,000. Amundi raised its stake in Apollo Global Management by 13.2% during the fourth 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 during the period. Permanent Capital Management LP acquired a new stake in Apollo Global Management during the fourth quarter worth about $231,000. Dorsey & Whitney Trust CO LLC raised its stake in Apollo Global Management by 6.8% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,554 shares of the financial services provider’s stock worth $422,000 after acquiring an additional 162 shares during the period. Finally, HM Payson & Co. acquired a new stake in Apollo Global Management during the fourth quarter worth about $45,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Activity

In other news, CFO Martin Kelly sold 5,000 shares of the firm’s 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 approximately $59,697,517.92. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is owned by insiders.

Apollo Global Management Stock Down 1.6 %

Apollo Global Management stock opened at $132.63 on Monday. The company has a market capitalization of $75.66 billion, a P/E ratio of 18.14, a P/E/G ratio of 1.17 and a beta of 1.66. The firm’s fifty day simple moving average is $159.88 and its 200-day simple moving average is $150.64. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.39%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on APO shares. Morgan Stanley increased their price objective on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. UBS Group upgraded shares of Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. Piper Sandler raised 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. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.74.

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.