235,321 Shares in Apollo Global Management, Inc. (NYSE:APO) Acquired by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC acquired a new position in Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 235,321 shares of the financial services provider’s stock, valued at approximately $38,866,000.

A number of other hedge funds also recently added to or reduced their stakes in APO. Byrne Asset Management LLC purchased a new position in Apollo Global Management in the 4th quarter worth approximately $37,000. Retirement Wealth Solutions LLC purchased a new stake in Apollo Global Management during the 4th quarter valued at $39,000. UMB Bank n.a. raised its stake in Apollo Global Management by 447.1% during the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after buying an additional 228 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Apollo Global Management during the 3rd quarter valued at $80,000. Finally, Truvestments Capital LLC purchased a new stake in Apollo Global Management during the 3rd quarter valued at $83,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Trading Up 3.2 %

Shares of APO stock opened at $162.95 on Friday. The firm has a market capitalization of $92.20 billion, a PE ratio of 22.29, a PEG ratio of 1.28 and a beta of 1.63. The stock has a fifty day simple moving average of $167.64 and a two-hundred day simple moving average of $145.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. 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 disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.4625 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.14%. Apollo Global Management’s payout ratio is 25.31%.

Insider Activity

In other news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the transaction, the chief financial officer now owns 320,564 shares in the company, valued at $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Leon D. Black sold 133,400 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.16, for a total value of $23,232,944.00. Following the transaction, the insider now owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 201,600 shares of company stock worth $34,977,528 over the last 90 days. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on APO shares. TD Cowen boosted their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Evercore ISI boosted their target price 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. Keefe, Bruyette & Woods decreased their target price 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. BMO Capital Markets raised their target price on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.74.

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.