Apollo Global Management Inc. $APO Position Increased by Fifth Third Bancorp

Fifth Third Bancorp lifted its position in Apollo Global Management Inc. (NYSE:APO) by 162.2% in the third quarter, HoldingsChannel.com reports. The firm owned 296,993 shares of the financial services provider’s stock after acquiring an additional 183,740 shares during the period. Fifth Third Bancorp’s holdings in Apollo Global Management were worth $34,469,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of APO. New Mexico Educational Retirement Board raised its stake in shares of Apollo Global Management by 159.1% in the 3rd quarter. New Mexico Educational Retirement Board now owns 59,862 shares of the financial services provider’s stock valued at $6,948,000 after buying an additional 36,762 shares in the last quarter. Bingham Private Wealth LLC boosted its position in shares of Apollo Global Management by 126.4% during the 3rd quarter. Bingham Private Wealth LLC now owns 6,283 shares of the financial services provider’s stock valued at $729,000 after acquiring an additional 3,508 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Apollo Global Management by 213.1% during the 3rd quarter. Maryland State Retirement & Pension System now owns 71,371 shares of the financial services provider’s stock valued at $8,283,000 after acquiring an additional 48,576 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Apollo Global Management by 824.1% during the 3rd quarter. Ritholtz Wealth Management now owns 15,849 shares of the financial services provider’s stock valued at $1,839,000 after acquiring an additional 14,134 shares in the last quarter. Finally, Joel Isaacson & Co. LLC boosted its holdings in Apollo Global Management by 7.5% during the third quarter. Joel Isaacson & Co. LLC now owns 85,236 shares of the financial services provider’s stock valued at $9,759,000 after purchasing an additional 5,966 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Price Performance

NYSE:APO opened at $121.25 on Friday. The firm has a market cap of $71.60 billion, a PE ratio of -66.26, a price-to-earnings-growth ratio of 1.16 and a beta of 1.51. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $153.29. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $119.85 and its two-hundred day moving average price is $122.66.

Apollo Global Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Wednesday, November 18th will be issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, November 18th. Apollo Global Management’s payout ratio is presently -122.95%.

Insider Activity at Apollo Global Management

In related news, insider Whitney Chatterjee sold 7,339 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $117.83, for a total transaction of $864,754.37. Following the sale, the insider directly owned 129,151 shares in the company, valued at $15,217,862.33. This represents a 5.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen lowered Apollo Global Management from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 7th. Bank of America cut their target price on Apollo Global Management from $163.00 to $161.00 in a research report on Monday, October 5th. Morgan Stanley decreased their price target on Apollo Global Management from $150.00 to $149.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 4th. Barclays lowered their price target on Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 4th. Finally, TD Cowen dropped their price objective on Apollo Global Management from $154.00 to $136.00 and set a “buy” rating for the company in a research note on Wednesday, November 4th. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $145.21.

About Apollo Global Management

Apollo Global Management is a global alternative asset manager that provides investment management and retirement services. Its investment strategies span private equity, credit and real assets, including infrastructure, and it serves institutional and individual investors. The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan. It has since expanded its investment businesses and retirement-services operations, including through Athene, its retirement services platform. Apollo operates across global markets and is led by co-founder Marc Rowan, who serves as chief executive officer.