Nordea Investment Management AB Sells 2,251 Shares of Apollo Global Management, Inc. (NYSE:APO)

Nordea Investment Management AB lowered its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 6.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 31,935 shares of the financial services provider’s stock after selling 2,251 shares during the quarter. Nordea Investment Management AB’s holdings in Apollo Global Management were worth $5,285,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC grew its stake in Apollo Global Management by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after purchasing an additional 254,268 shares during the period. Legal & General Group Plc grew its stake in Apollo Global Management by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 4,383,217 shares of the financial services provider’s stock valued at $517,527,000 after purchasing an additional 126,859 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Apollo Global Management by 27.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after purchasing an additional 383,557 shares during the period. Janus Henderson Group PLC grew its stake in Apollo Global Management by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock valued at $167,298,000 after purchasing an additional 4,892 shares during the period. Finally, 1832 Asset Management L.P. lifted its position in shares of Apollo Global Management by 2.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,294,530 shares of the financial services provider’s stock valued at $152,845,000 after buying an additional 37,070 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods upped their price target on Apollo Global Management from $168.00 to $196.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. TD Cowen upped their price target on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company upped their price target on Apollo Global Management from $164.00 to $197.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets upped their price target 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $155.35 on Friday. 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 capitalization of $87.90 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 1.84 and a beta of 1.63. The business’s 50-day moving average price is $168.14 and its 200-day moving average price is $137.90. Apollo Global Management, Inc. has a 12 month low of $94.19 and a 12 month high of $189.49.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were given a dividend of $0.463 per share. This represents a $1.85 annualized dividend and a yield of 1.19%. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.33%.

Insider Buying and Selling

In related news, insider Leon D. Black sold 58,200 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the transaction, the insider now directly owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This trade represents a 0.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the sale, the chief financial officer now owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 196,600 shares of company stock worth $34,186,128 in the last ninety days. 8.50% of the stock is owned by insiders.

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.