Westfield Capital Management Co. LP Has $108.07 Million Holdings in Apollo Global Management Inc. $APO

Westfield Capital Management Co. LP boosted its holdings in Apollo Global Management Inc. (NYSE:APO) by 54.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 761,721 shares of the financial services provider’s stock after purchasing an additional 268,119 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Apollo Global Management were worth $108,065,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC lifted its holdings in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 87 shares in the last quarter. Activest Wealth Management grew its holdings in Apollo Global Management by 875.0% during the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock worth $28,000 after buying an additional 175 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in Apollo Global Management by 6,900.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock valued at $30,000 after buying an additional 207 shares during the last quarter. Andra AP fonden bought a new position in Apollo Global Management during the 2nd quarter valued at $31,000. Finally, Bay Harbor Wealth Management LLC boosted its holdings in Apollo Global Management by 5,200.0% during the 2nd quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 260 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on APO. Barclays upped their price objective on shares of Apollo Global Management from $147.00 to $158.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Citigroup reduced their target price on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday, October 13th. Piper Sandler reiterated an “overweight” rating on shares of Apollo Global Management in a report on Tuesday, October 7th. Evercore ISI boosted their price objective on Apollo Global Management from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Finally, BMO Capital Markets began coverage on shares of Apollo Global Management in a research report on Friday, October 3rd. They set a “market perform” rating and a $132.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $163.08.

Apollo Global Management Trading Up 3.9%

Shares of Apollo Global Management stock opened at $132.16 on Thursday. The stock’s 50-day simple moving average is $130.13 and its 200 day simple moving average is $136.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $189.49. The stock has a market capitalization of $75.60 billion, a P/E ratio of 24.71, a P/E/G ratio of 1.42 and a beta of 1.63.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. Apollo Global Management’s dividend payout ratio (DPR) is presently 29.82%.

Insider Activity

In related news, insider Leon D. Black sold 915,000 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total value of $122,637,450.00. Following the transaction, the insider directly owned 4,526,000 shares in the company, valued at approximately $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.20% 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.