The Manufacturers Life Insurance Company Grows Position in Apollo Global Management, Inc. (NYSE:APO)

The Manufacturers Life Insurance Company raised its holdings in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 553.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 376,186 shares of the financial services provider's stock after purchasing an additional 318,604 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of Apollo Global Management worth $62,131,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of APO. 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 worth $7,454,560,000 after acquiring an additional 3,691,700 shares during the period. Geode Capital Management LLC grew its holdings in 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 buying an additional 3,695,979 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Apollo Global Management by 36.9% during 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 buying an additional 1,739,807 shares during the period. Charles Schwab Investment Management Inc. lifted 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 worth $479,057,000 after buying an additional 1,094,464 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Apollo Global Management by 245.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock valued at $438,196,000 after acquiring an additional 1,886,146 shares during the period. Institutional investors own 77.06% of the company's stock.

Insider Buying and Selling at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares in the company, 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 legal filing with the SEC, which is available at this link. Also, insider Leon D. Black sold 500,000 shares of the company's 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 completion of the transaction, the insider now owns 34,604,773 shares of the company's stock, valued at $4,913,877,766. This trade represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company's stock.

Apollo Global Management Trading Down 1.7 %

APO stock traded down $2.40 during trading on Friday, hitting $135.49. 4,382,021 shares of the company traded hands, compared to its average volume of 3,844,380. The company has a 50-day moving average of $133.18 and a 200-day moving average of $152.92. 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, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49. The firm has a market capitalization of $77.29 billion, a PE ratio of 18.53, a P/E/G ratio of 1.17 and a beta of 1.66.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data 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). Apollo Global Management had a net margin of 17.53% and a return on equity of 13.97%. The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. Analysts predict that Apollo Global Management, Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The company 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 dividend on an annualized basis and a yield of 1.51%. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio (DPR) is 25.31%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America raised their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 4th. UBS Group dropped their price objective on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a research note on Thursday. Keefe, Bruyette & Woods decreased their target price on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Piper Sandler dropped their price target on Apollo Global Management from $202.00 to $193.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, Raymond James initiated coverage on Apollo Global Management in a report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $156.25.

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.