Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 9.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 159,171 shares of the financial services provider’s stock after buying an additional 14,317 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Apollo Global Management were worth $26,289,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of APO. Kohmann Bosshard Financial Services LLC purchased a new stake in Apollo Global Management in the fourth quarter valued at $34,000. Byrne Asset Management LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter worth about $37,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at about $39,000. HM Payson & Co. acquired a new stake in shares of Apollo Global Management in the 4th quarter valued at about $45,000. Finally, UMB Bank n.a. grew its stake in Apollo Global Management by 447.1% during the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock worth $46,000 after buying an additional 228 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $130.55 on Wednesday. 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 one year low of $95.11 and a one year high of $189.49. The firm has a market capitalization of $74.48 billion, a P/E ratio of 17.86, a PEG ratio of 1.17 and a beta of 1.66. The company’s fifty day moving average is $158.38 and its two-hundred day moving average is $150.89.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Wall Street Analyst Weigh In

APO has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods decreased their price target 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. UBS Group raised shares of Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. Piper Sandler upped their target price on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Apollo Global Management presently has an average rating of “Moderate Buy” and an average price target of $165.74.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by company insiders.

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.