AQR Capital Management LLC Grows Stake in Apollo Global Management, Inc. (NYSE:APO)

AQR Capital Management LLC grew its stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 20.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,708 shares of the financial services provider's stock after acquiring an additional 7,318 shares during the period. AQR Capital Management LLC's holdings in Apollo Global Management were worth $7,054,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Diversified Trust Co purchased a new stake in Apollo Global Management in the fourth quarter worth $261,000. ORG Wealth Partners LLC purchased a new stake in Apollo Global Management in the 4th quarter worth about $97,000. Graypoint LLC raised its stake in Apollo Global Management by 12.0% in the 4th quarter. Graypoint LLC now owns 1,988 shares of the financial services provider's stock valued at $328,000 after acquiring an additional 213 shares during the period. Czech National Bank purchased a new stake in Apollo Global Management during the fourth quarter valued at about $16,007,000. Finally, Brookstone Capital Management bought a new position in Apollo Global Management during the fourth quarter worth about $441,000. Institutional investors own 77.06% of the company's stock.

Insiders Place Their Bets

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the transaction, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares of the company's stock, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 509,000 shares of company stock valued at $72,321,680 in the last ninety days. Company insiders own 8.50% of the company's stock.

Apollo Global Management Stock Up 0.0 %

Shares of APO opened at $129.34 on Thursday. The firm has a market cap of $73.79 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.17 and a beta of 1.67. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The stock has a 50 day simple moving average of $132.15 and a two-hundred day simple moving average of $152.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.02). Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $977.14 million. During the same period in the prior year, the business posted $1.72 EPS. Apollo Global Management's revenue for the quarter was down 21.2% on a year-over-year basis. On average, analysts forecast that Apollo Global Management, Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.58%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, May 16th. Apollo Global Management's dividend payout ratio (DPR) is presently 35.73%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Piper Sandler dropped their price target on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research note on Monday. Bank of America raised their price target on Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 4th. TD Cowen decreased their price objective on Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company cut their target price on Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Cowen reiterated a "buy" rating on shares of Apollo Global Management in a research report on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $155.85.

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.

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