MetLife Investment Management LLC Has $22.60 Million Position in Apollo Global Management, Inc. (NYSE:APO)

MetLife Investment Management LLC boosted its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 408.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 136,826 shares of the financial services provider’s stock after acquiring an additional 109,912 shares during the period. MetLife Investment Management LLC’s holdings in Apollo Global Management were worth $22,598,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Kestra Private Wealth Services LLC bought a new stake in Apollo Global Management in the fourth quarter valued at about $3,994,000. Fortress Financial Solutions LLC bought a new position in Apollo Global Management during the 4th quarter worth approximately $685,000. Leavell Investment Management Inc. grew its holdings in Apollo Global Management by 39.8% during the fourth quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider’s stock valued at $1,016,000 after purchasing an additional 1,750 shares during the period. Amundi increased its stake in Apollo Global Management by 13.2% in the fourth quarter. Amundi now owns 801,260 shares of the financial services provider’s stock valued at $129,788,000 after purchasing an additional 93,451 shares in the last quarter. Finally, State of Michigan Retirement System bought a new position in shares of Apollo Global Management during the fourth quarter worth $20,034,000. Institutional investors own 77.06% of the company’s stock.

Insider Activity

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the transaction, the insider now directly owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This trade represents a 1.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction 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 owns 377,164 shares of the company’s stock, valued at $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 company insiders.

Apollo Global Management Trading Up 1.3 %

Shares of NYSE:APO opened at $126.78 on Friday. The stock has a market cap of $72.33 billion, a PE ratio of 17.34, a P/E/G ratio of 1.17 and a beta of 1.66. 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 12-month low of $95.11 and a 12-month high of $189.49. The business has a 50 day moving average of $138.04 and a 200-day moving average of $153.39.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Analyst Ratings Changes

Several analysts recently commented on APO shares. Citigroup dropped their price objective on Apollo Global Management from $191.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Piper Sandler cut their price objective on Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their target price on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Barclays reduced their price target on shares of Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, April 7th. Finally, Bank of America raised their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

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.