Chevy Chase Trust Holdings LLC Purchases New Position in Apollo Global Management, Inc. (NYSE:APO)

Chevy Chase Trust Holdings LLC purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 235,321 shares of the financial services provider’s stock, valued at approximately $38,866,000.

A number of other institutional investors have also recently made changes to their positions in APO. Byrne Asset Management LLC bought a new stake in Apollo Global Management in the fourth quarter worth about $37,000. Retirement Wealth Solutions LLC bought a new stake in Apollo Global Management in the fourth quarter worth about $39,000. UMB Bank n.a. lifted its stake in Apollo Global Management by 447.1% in the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 228 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Apollo Global Management in the third quarter worth about $80,000. Finally, Truvestments Capital LLC bought a new stake in Apollo Global Management in the third quarter worth about $83,000. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on APO shares. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. BMO Capital Markets lifted their price target on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Evercore ISI lifted their price target on shares of Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Morgan Stanley lifted their price target on shares of Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Piper Sandler lifted their price target on shares of Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $165.74.

Apollo Global Management Stock Performance

Shares of APO stock opened at $162.95 on Friday. The firm has a market cap of $92.20 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.28 and a beta of 1.63. The company’s 50 day moving average is $167.64 and its 200 day moving average is $145.96. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. 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 company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.14%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the transaction, the insider now directly owns 35,471,373 shares in the company, valued at $6,177,694,321.68. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,600 shares of company stock valued at $34,977,528. 8.50% of the stock is currently owned by insiders.

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.