Apollo Global Management, Inc. (NYSE:APO) Shares Bought by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. grew its position in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 124.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 158,200 shares of the financial services provider's stock after acquiring an additional 87,600 shares during the period. Factory Mutual Insurance Co.'s holdings in Apollo Global Management were worth $21,664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Apollo Global Management by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock valued at $7,454,560,000 after acquiring an additional 3,691,700 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Apollo Global Management by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock valued at $1,550,316,000 after acquiring an additional 3,695,979 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Apollo Global Management by 36.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock valued at $1,065,615,000 after acquiring an additional 1,739,807 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Apollo Global Management by 50.0% in the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock valued at $723,853,000 after acquiring an additional 1,460,689 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Apollo Global Management by 60.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider's stock valued at $479,057,000 after acquiring an additional 1,094,464 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Buying and Selling

In related news, insider Leon D. Black sold 500,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the completion of the transaction, the insider now owns 34,604,773 shares of the company's stock, valued at approximately $4,913,877,766. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the company's stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the transaction, the insider now directly owns 621,754 shares of the company's stock, valued at approximately $69,257,178.06. This represents a 4,331.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Piper Sandler lowered their target price on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Citigroup decreased their price objective on shares of Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company boosted their price objective on shares of Apollo Global Management from $158.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Morgan Stanley decreased their price objective on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Finally, Cowen reissued a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Apollo Global Management has an average rating of "Moderate Buy" and a consensus price target of $159.00.

Apollo Global Management Trading Down 4.3%

Shares of APO traded down $5.95 on Friday, hitting $132.16. 4,237,940 shares of the stock traded hands, compared to its average volume of 3,949,535. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $75.53 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.17 and a beta of 1.59. The stock's 50 day moving average is $132.32 and its two-hundred day moving average is $148.57. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly 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 return on equity of 13.97% and a net margin of 17.53%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. During the same period last year, the company posted $1.72 EPS. The business's revenue for the quarter was down 21.2% on a year-over-year basis. As a group, sell-side analysts predict that Apollo Global Management, Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.51 per share. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.04 annualized dividend and a yield of 1.54%. Apollo Global Management's dividend payout ratio is 35.73%.

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.