Pinebridge Investments L.P. Buys New Stake in Apollo Global Management, Inc. (NYSE:APO)

Pinebridge Investments L.P. acquired a new stake in Apollo Global Management, Inc. (NYSE:APO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,903 shares of the financial services provider's stock, valued at approximately $810,000.

A number of other institutional investors and hedge funds have also made changes to their positions in APO. Geode Capital Management LLC lifted its position in shares of Apollo Global Management by 64.6% during the 4th 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 during the period. Vanguard Group Inc. increased its holdings in shares of Apollo Global Management by 8.9% in the 4th 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 during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Apollo Global Management by 245.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock worth $438,196,000 after buying an additional 1,886,146 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Apollo Global Management by 36.9% during the 4th 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 purchasing an additional 1,739,807 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Apollo Global Management by 200,666.6% in the fourth quarter. Bessemer Group Inc. now owns 1,226,684 shares of the financial services provider's stock valued at $202,598,000 after purchasing an additional 1,226,073 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APO has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target 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. Morgan Stanley reduced their target price on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Bank of America raised their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, April 4th. Barclays lowered their price target on Apollo Global Management from $196.00 to $145.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. Finally, Piper Sandler lowered their target price on Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $156.25.

Apollo Global Management Stock Performance

Shares of NYSE:APO traded down $2.40 during trading on Friday, hitting $135.49. The company's stock had a trading volume of 4,382,021 shares, compared to its average volume of 3,848,708. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The company has a 50-day moving average of $133.38 and a 200-day moving average of $152.96. The firm has a market cap of $77.29 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 12 month low of $95.11 and a 12 month high of $189.49.

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

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.51%. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio (DPR) is currently 25.31%.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the sale, the chief financial officer now owns 377,164 shares of the company's stock, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lb 2018 Gst Trust bought 607,725 shares of Apollo Global Management stock in a transaction on Friday, April 4th. The shares were 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 approximately $69,257,178.06. The trade was 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 insiders.

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.