Blue Whale Capital LLP Acquires Shares of 286,997 Apollo Global Management, Inc. (NYSE:APO)

Blue Whale Capital LLP purchased a new stake in Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 286,997 shares of the financial services provider’s stock, valued at approximately $47,400,000. Apollo Global Management accounts for 3.5% of Blue Whale Capital LLP’s portfolio, making the stock its 12th largest holding. Blue Whale Capital LLP owned about 0.05% of Apollo Global Management as of its most recent SEC filing.

Several other large investors have also made changes to their positions in APO. Vanguard Group Inc. lifted its position in Apollo Global Management by 8.9% during 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of Apollo Global Management by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider’s stock worth $1,550,316,000 after acquiring an additional 3,695,979 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 valued at $479,057,000 after purchasing an additional 1,094,464 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 purchasing an additional 1,886,146 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Apollo Global Management by 42.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock valued at $436,148,000 after purchasing an additional 782,700 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $108.22 on Monday. 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 business’s 50 day moving average price is $148.49 and its two-hundred day moving average price is $154.07. The company has a market cap of $61.74 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a $0.4625 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.71%. Apollo Global Management’s dividend payout ratio (DPR) is currently 25.31%.

Insider Transactions at Apollo Global Management

In other news, insider Leon D. Black sold 500,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the sale, the insider now directly owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This represents a 1.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on APO shares. Bank of America increased their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Barclays boosted their target price on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Wells Fargo & Company lowered their target price on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler lowered their price objective on shares of Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $168.26.

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.