MetLife Investment Management LLC Has $18.41 Million Stock Position in Apollo Global Management Inc. $APO

Key Points

• MetLife Investment Management LLC reduced its stake in Apollo Global Management by 1.8%, owning 134,430 shares worth approximately $18.4 million after selling 2,396 shares in the first quarter.
• Several hedge funds increased their holdings in Apollo, with Principal Financial Group growing its stake by 1.4%, and Clearview Wealth Advisors expanding theirs by an impressive 420.7%.
• Apollo Global Management recently declared a quarterly dividend of $0.51 per share, representing an annualized yield of 1.5%, with a payout ratio of 38.13%.

MetLife Investment Management LLC reduced its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,430 shares of the financial services provider's stock after selling 2,396 shares during the quarter. MetLife Investment Management LLC's holdings in Apollo Global Management were worth $18,409,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in shares of Apollo Global Management in the 4th quarter worth approximately $25,000. GW&K Investment Management LLC raised its holdings in shares of Apollo Global Management by 84.5% during the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 87 shares during the period. ORG Partners LLC raised its holdings in shares of Apollo Global Management by 285.0% during the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 171 shares during the period. Farmers & Merchants Investments Inc. acquired a new stake in shares of Apollo Global Management during the first quarter valued at approximately $39,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Apollo Global Management by 118.6% during the first quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 172 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Cowen restated a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Citigroup boosted their price target on shares of Apollo Global Management from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Evercore ISI boosted their price target on shares of Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Finally, Barclays boosted their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average price target of $164.56.

Apollo Global Management Stock Performance

NYSE:APO traded up $0.13 during trading hours on Friday, hitting $136.52. 4,975,863 shares of the company traded hands, compared to its average volume of 3,426,771. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $189.49. The stock has a market capitalization of $78.09 billion, a price-to-earnings ratio of 25.52, a P/E/G ratio of 1.47 and a beta of 1.62. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $143.11 and a 200 day moving average of $138.42.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The company had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the prior year, the company posted $1.64 EPS. On average, analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a $0.51 dividend. The ex-dividend date was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. Apollo Global Management's dividend payout ratio is currently 38.13%.

Insiders Place Their Bets

In related news, CFO Martin Kelly sold 15,500 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the sale, the chief financial officer owned 332,399 shares in the company, valued at $48,234,418.89. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the sale, the insider owned 83,192 shares of the company's stock, valued at $12,148,527.76. This trade represents a 5.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company's stock.

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.