Arrow Capital Pty Ltd Purchases Shares of 14,000 Apollo Global Management, Inc. (NYSE:APO)

Arrow Capital Pty Ltd acquired a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,000 shares of the financial services provider’s stock, valued at approximately $2,312,000. Apollo Global Management makes up 2.1% of Arrow Capital Pty Ltd’s investment portfolio, making the stock its 23rd largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in 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 valued at $7,454,560,000 after acquiring an additional 3,691,700 shares during the period. Geode Capital Management LLC boosted its stake in 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 period. Charles Schwab Investment Management Inc. increased its position in Apollo Global Management by 60.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock worth $479,057,000 after buying an additional 1,094,464 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Apollo Global Management by 245.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider’s stock worth $438,196,000 after buying an additional 1,886,146 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Apollo Global Management by 42.1% in the 4th 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 during the period. 77.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Lb 2018 Gst Trust acquired 607,725 shares of the stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were 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 owns 377,164 shares in the company, valued at approximately $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 insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Citigroup reduced their price target on Apollo Global Management from $191.00 to $138.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Piper Sandler decreased their price objective on shares of Apollo Global Management from $202.00 to $193.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Barclays reduced their price objective on 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. Raymond James initiated coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They issued a “strong-buy” rating and a $173.00 price objective for the company. Finally, Morgan Stanley dropped their price target on Apollo Global Management from $170.00 to $131.00 and set an “equal weight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $125.45 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market cap of $71.57 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The stock’s fifty day simple moving average is $139.37 and its two-hundred day simple moving average is $153.27. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.47%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

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.