Candriam S.C.A. Acquires 82,894 Shares of Apollo Global Management Inc. $APO

Key Points

• Candriam S.C.A. increased its Apollo Global Management stake by 196.5% in the third quarter, adding 82,894 shares to hold 125,089 shares valued at about $14.5 million.
• Other institutional investors also expanded positions; institutions collectively own 77.06% of Apollo’s stock. Analysts rate the shares “Moderate Buy,” with an average price target of $145.21.
• Apollo insiders reported share sales, while the company announced a quarterly dividend of $0.5625 per share, or $2.25 annualized, for a 1.8% yield.

Candriam S.C.A. raised its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 196.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 125,089 shares of the financial services provider's stock after acquiring an additional 82,894 shares during the period. Candriam S.C.A.'s holdings in Apollo Global Management were worth $14,518,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of APO. Ethic Inc. raised its position in shares of Apollo Global Management by 19.5% during the third quarter. Ethic Inc. now owns 52,942 shares of the financial services provider's stock worth $5,908,000 after purchasing an additional 8,650 shares during the period. 180 Wealth Advisors LLC lifted its holdings in shares of Apollo Global Management by 3.1% during the 3rd quarter. 180 Wealth Advisors LLC now owns 5,742 shares of the financial services provider's stock valued at $666,000 after purchasing an additional 171 shares in the last quarter. Asset Dedication LLC lifted its holdings in shares of Apollo Global Management by 291.9% during the 3rd quarter. Asset Dedication LLC now owns 482 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 359 shares in the last quarter. Alps Advisors Inc. grew its position in shares of Apollo Global Management by 1,277.6% in the 3rd quarter. Alps Advisors Inc. now owns 317,733 shares of the financial services provider's stock valued at $36,876,000 after purchasing an additional 294,669 shares during the period. Finally, CenterBook Partners LP grew its position in shares of Apollo Global Management by 101.1% in the 3rd quarter. CenterBook Partners LP now owns 7,449 shares of the financial services provider's stock valued at $865,000 after purchasing an additional 3,745 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Whitney Chatterjee sold 7,339 shares of the company's 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 completion of the transaction, the insider owned 129,151 shares of the company's stock, 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 SEC, which is available through this link. Also, CFO Martin Kelly sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total transaction of $422,520.00. Following the transaction, the chief financial officer directly owned 396,533 shares of the company's stock, valued at $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 8.30% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Bank of America lowered their target price on Apollo Global Management from $163.00 to $161.00 in a research note on Monday, October 5th. Wells Fargo & Company assumed coverage on shares of Apollo Global Management in a research note on Friday, October 2nd. They issued an "equal weight" rating and a $127.00 price target on the stock. The Goldman Sachs Group reduced their price target on shares of Apollo Global Management from $154.00 to $148.00 and set a "buy" rating for the company in a report on Friday, October 2nd. Barclays lowered their price objective on shares of Apollo Global Management from $157.00 to $156.00 and set an "overweight" rating for the company in a research report on Wednesday, November 4th. Finally, TD Cowen dropped their price objective on shares of Apollo Global Management from $154.00 to $136.00 and set a "buy" rating on the stock in a report on Wednesday, November 4th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $145.21.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock opened at $122.24 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.41 and a quick ratio of 1.70. The firm has a market cap of $72.19 billion, a price-to-earnings ratio of -66.80, a price-to-earnings-growth ratio of 1.13 and a beta of 1.51. The stock's 50-day moving average is $120.53 and its 200-day moving average is $122.86. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $153.29.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Wednesday, November 18th will be given a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, November 18th. Apollo Global Management's dividend payout ratio (DPR) is currently -122.95%.

Apollo Global Management Profile

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.

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