Fayez Sarofim & Co Makes New $206,000 Investment in Apollo Global Management, Inc. (NYSE:APO)

Fayez Sarofim & Co purchased a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,250 shares of the financial services provider’s stock, valued at approximately $206,000.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Apollo Global Management by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock valued at $1,550,316,000 after purchasing an additional 3,695,979 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Apollo Global Management by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock worth $7,454,560,000 after buying an additional 3,691,700 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Apollo Global Management by 245.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock valued at $438,196,000 after acquiring an additional 1,886,146 shares during the last quarter. Bessemer Group Inc. grew its position in Apollo Global Management by 200,666.6% during the fourth quarter. Bessemer Group Inc. now owns 1,226,684 shares of the financial services provider’s stock valued at $202,598,000 after acquiring an additional 1,226,073 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Apollo Global Management by 60.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock worth $479,057,000 after acquiring an additional 1,094,464 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Up 3.4 %

Shares of Apollo Global Management stock opened at $123.72 on Wednesday. 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 has a market cap of $70.58 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.17 and a beta of 1.66. The business has a 50-day moving average price of $136.59 and a 200 day moving average price of $153.23.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APO. Morgan Stanley decreased their target price on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Raymond James initiated coverage on shares of Apollo Global Management in a research report on Thursday, April 10th. They issued a “strong-buy” rating and a $173.00 price objective for the company. Barclays cut their target price on shares of Apollo Global Management from $196.00 to $145.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. TD Cowen lowered their price target on Apollo Global Management from $214.00 to $144.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, 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 research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and an average target price of $156.00.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now directly owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This represents 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 Lb 2018 Gst Trust purchased 607,725 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $111.39 per share, for a total transaction of $67,694,487.75. Following the acquisition, the insider now owns 621,754 shares in the company, valued at approximately $69,257,178.06. The trade was a 4,331.92 % increase in their position. The disclosure for this purchase can be found here. 8.50% of the stock is owned by insiders.

Apollo Global Management 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.