Royal London Asset Management Ltd. Raises Stake in Apollo Global Management, Inc. (NYSE:APO)

Royal London Asset Management Ltd. increased its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 305,380 shares of the financial services provider’s stock after buying an additional 4,906 shares during the period. Royal London Asset Management Ltd.’s holdings in Apollo Global Management were worth $50,437,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. purchased a new stake in Apollo Global Management during the 4th quarter worth about $33,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at about $34,000. Byrne Asset Management LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at 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. Finally, HM Payson & Co. purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on APO. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Barclays raised 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. Keefe, Bruyette & Woods lowered their price target on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. TD Cowen increased their price objective 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. Finally, Morgan Stanley increased their price objective on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $165.21.

Apollo Global Management Price Performance

APO opened at $144.77 on Friday. The stock’s 50 day simple moving average is $154.54 and its 200 day simple moving average is $151.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The firm has a market cap of $82.59 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were given a $0.4625 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.28%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Insider Transactions at Apollo Global Management

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 stock was sold at an average price of $158.28, for a total value of $791,400.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.50% of the company’s stock.

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.