Van ECK Associates Corp Has $14.36 Million Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Van ECK Associates Corp increased its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 8.7% during the fourth quarter, Holdings Channel reports. The fund owned 86,925 shares of the financial services provider’s stock after acquiring an additional 6,982 shares during the quarter. Van ECK Associates Corp’s holdings in Apollo Global Management were worth $14,357,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Apollo Global Management by 27.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock valued at $225,600,000 after purchasing an additional 383,557 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Apollo Global Management by 12,086.7% during the third quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock valued at $462,460,000 after buying an additional 367,195 shares in the last quarter. Holocene Advisors LP raised its position in Apollo Global Management by 530.9% during the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock valued at $50,242,000 after buying an additional 338,472 shares during the period. Geode Capital Management LLC lifted its stake in Apollo Global Management by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after acquiring an additional 254,268 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Apollo Global Management by 43.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 767,014 shares of the financial services provider’s stock worth $95,808,000 after acquiring an additional 233,670 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

APO opened at $162.95 on Friday. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The firm has a market capitalization of $92.20 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 1.28 and a beta of 1.63. The stock’s 50 day moving average price is $167.64 and its two-hundred day moving average price is $146.12. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Tuesday, February 18th. Apollo Global Management’s payout ratio is currently 25.31%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Piper Sandler increased their price target on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Wells Fargo & Company decreased their target price on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. UBS Group upgraded Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. TD Cowen boosted their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods cut their price target 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. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $165.74.

Insider Buying and Selling at Apollo Global Management

In other news, insider Leon D. Black sold 58,200 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the sale, the insider now owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. This trade represents a 0.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the firm’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 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 trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 201,600 shares of company stock valued at $34,977,528 in the last ninety days. Company insiders own 8.50% of the company’s stock.

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.