Massachusetts Financial Services Co. MA Grows Position in Apollo Global Management, Inc. (NYSE:APO)

Massachusetts Financial Services Co. MA raised its position in Apollo Global Management, Inc. (NYSE:APO) by 245.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,653,160 shares of the financial services provider’s stock after acquiring an additional 1,886,146 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Apollo Global Management were worth $438,196,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Menard Financial Group LLC lifted its position in shares of Apollo Global Management by 1.2% during the 3rd quarter. Menard Financial Group LLC now owns 5,761 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 71 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in Apollo Global Management by 2.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,704 shares of the financial services provider’s stock valued at $447,000 after buying an additional 71 shares during the last quarter. Tower Wealth Partners Inc. raised its stake in Apollo Global Management by 4.4% in the fourth quarter. Tower Wealth Partners Inc. now owns 1,743 shares of the financial services provider’s stock valued at $288,000 after buying an additional 74 shares in the last quarter. Sfmg LLC lifted its holdings in Apollo Global Management by 1.1% during the 3rd quarter. Sfmg LLC now owns 7,220 shares of the financial services provider’s stock worth $902,000 after buying an additional 79 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of Apollo Global Management by 0.9% during the 4th quarter. Global Retirement Partners LLC now owns 9,924 shares of the financial services provider’s stock worth $1,639,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on APO shares. Piper Sandler cut their target price on Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley raised their price objective on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Barclays boosted their price objective on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods dropped their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company reduced their price target on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.74.

Insiders Place Their Bets

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, the insider now directly owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the chief financial officer now owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

Apollo Global Management Stock Up 2.4 %

Shares of NYSE:APO opened at $141.68 on Thursday. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. 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’s 50-day simple moving average is $150.71 and its 200-day simple moving average is $153.85. The company has a market cap of $80.83 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.17 and a beta of 1.66.

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 given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.31%. The ex-dividend date was Tuesday, February 18th. 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.