NEOS Investment Management LLC Purchases Shares of 23,159 Apollo Global Management, Inc. (NYSE:APO)

NEOS Investment Management LLC acquired a new position in Apollo Global Management, Inc. (NYSE:APO) in the 4th quarter, Holdings Channel reports. The firm acquired 23,159 shares of the financial services provider’s stock, valued at approximately $3,825,000.

A number of other hedge funds have also made changes to their positions in APO. UniSuper Management Pty Ltd increased its holdings in Apollo Global Management by 208.7% in the 4th quarter. UniSuper Management Pty Ltd now owns 29,941 shares of the financial services provider’s stock valued at $4,945,000 after purchasing an additional 20,241 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its stake in shares of Apollo Global Management by 8.0% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 37,973 shares of the financial services provider’s stock worth $6,289,000 after purchasing an additional 2,813 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Apollo Global Management by 155.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 670,065 shares of the financial services provider’s stock worth $113,281,000 after buying an additional 407,343 shares during the period. Korea Investment CORP grew its stake in shares of Apollo Global Management by 79.0% in the fourth quarter. Korea Investment CORP now owns 254,523 shares of the financial services provider’s stock valued at $42,037,000 after buying an additional 112,300 shares in the last quarter. Finally, Core Wealth Partners LLC purchased a new stake in shares of Apollo Global Management during the 4th quarter valued at about $224,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction dated 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 owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the sale, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This trade represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. TD Cowen upped their price target on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods decreased their target price 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. Morgan Stanley lifted their price target 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. BMO Capital Markets upped their price objective 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. Finally, Wells Fargo & Company lowered their target price on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. One research 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $165.21.

Apollo Global Management Price Performance

Shares of APO opened at $142.18 on Friday. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market cap of $81.11 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.17 and a beta of 1.66. The stock has a 50 day moving average of $153.07 and a 200-day moving average of $152.75.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.30%. Apollo Global Management’s payout ratio is 25.31%.

Apollo Global Management Company 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.