MetLife Investment Management LLC Increases Stake in Apollo Global Management, Inc. (NYSE:APO)

MetLife Investment Management LLC raised its stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) by 408.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,826 shares of the financial services provider's stock after purchasing an additional 109,912 shares during the quarter. MetLife Investment Management LLC's holdings in Apollo Global Management were worth $22,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. World Investment Advisors LLC boosted its stake in Apollo Global Management by 1.8% in the third quarter. World Investment Advisors LLC now owns 6,823 shares of the financial services provider's stock worth $852,000 after buying an additional 119 shares in the last quarter. Sfmg LLC boosted its stake in shares of Apollo Global Management by 1.1% in the 3rd quarter. Sfmg LLC now owns 7,220 shares of the financial services provider's stock valued at $902,000 after purchasing an additional 79 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Apollo Global Management during the 3rd quarter valued at $503,000. Versant Capital Management Inc lifted its stake in Apollo Global Management by 203.6% in the fourth quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider's stock worth $83,000 after purchasing an additional 336 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Apollo Global Management by 10.4% during the fourth quarter. GAMMA Investing LLC now owns 2,768 shares of the financial services provider's stock valued at $457,000 after buying an additional 260 shares during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company lowered their price objective on Apollo Global Management from $177.00 to $139.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Raymond James started coverage on shares of Apollo Global Management in a report on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 target price on the stock. Morgan Stanley lowered their price target on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Finally, Piper Sandler cut their price target on shares of Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $156.00.

Apollo Global Management Stock Up 0.1 %

Shares of NYSE:APO traded up $0.10 during trading on Friday, reaching $133.42. 1,474,787 shares of the stock traded hands, compared to its average volume of 3,809,314. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The stock has a market cap of $76.11 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. The stock has a 50-day moving average of $135.27 and a two-hundred day moving average of $153.04. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management's payout ratio is currently 25.31%.

Insider Buying and Selling

In other news, insider Leon D. Black sold 500,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, the insider now directly owns 34,604,773 shares of the company's stock, valued at $4,913,877,766. This represents a 1.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the acquisition, the insider now directly owns 621,754 shares of the company's stock, valued at $69,257,178.06. This trade 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 owned by corporate insiders.

Apollo Global Management 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.