Bank of New York Mellon Corp Increases Stake in Apollo Global Management, Inc. (NYSE:APO)

Bank of New York Mellon Corp raised its holdings in Apollo Global Management, Inc. (NYSE:APO) by 42.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,640,758 shares of the financial services provider’s stock after buying an additional 782,700 shares during the period. Bank of New York Mellon Corp’s holdings in Apollo Global Management were worth $436,148,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Private Advisor Group LLC grew its position in shares of Apollo Global Management by 4.1% during the third quarter. Private Advisor Group LLC now owns 10,741 shares of the financial services provider’s stock worth $1,342,000 after buying an additional 423 shares in the last quarter. Allworth Financial LP grew its holdings in Apollo Global Management by 14.3% during the 3rd quarter. Allworth Financial LP now owns 729 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 91 shares in the last quarter. Autumn Glory Partners LLC purchased a new stake in shares of Apollo Global Management in the 3rd quarter valued at approximately $255,000. abrdn plc raised its holdings in shares of Apollo Global Management by 41.3% in the 3rd quarter. abrdn plc now owns 200,226 shares of the financial services provider’s stock valued at $24,977,000 after purchasing an additional 58,485 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Apollo Global Management in the 3rd quarter valued at $181,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the transaction, the chief financial officer now directly owns 320,564 shares in the company, valued at $55,332,552.04. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Leon D. Black sold 133,400 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the sale, the insider now owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 201,600 shares of company stock worth $34,977,528 over the last 90 days. 8.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on APO. TD Cowen increased their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company dropped their price objective on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Citigroup boosted their target price on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Barclays upped their price target on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, UBS Group raised shares of Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. One equities 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $165.74.

Apollo Global Management Stock Performance

NYSE APO opened at $147.45 on Thursday. The business’s 50-day moving average price is $164.28 and its 200 day moving average price is $148.74. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market cap of $83.43 billion, a P/E ratio of 20.17, a P/E/G ratio of 1.17 and a beta of 1.63. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management’s payout ratio is currently 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.