Massachusetts Financial Services Co. MA lifted its holdings in shares of Apollo Global Management, Inc. (NYSE:APO – Free Report) by 43.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 767,014 shares of the financial services provider’s stock after acquiring an additional 233,670 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.13% of Apollo Global Management worth $95,808,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Moors & Cabot Inc. lifted its holdings in Apollo Global Management by 8.1% during the 3rd quarter. Moors & Cabot Inc. now owns 14,508 shares of the financial services provider’s stock valued at $1,812,000 after purchasing an additional 1,087 shares during the last quarter. Bellwether Advisors LLC bought a new position in shares of Apollo Global Management in the third quarter valued at about $3,585,000. Advisors Asset Management Inc. lifted its stake in shares of Apollo Global Management by 34.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock worth $2,428,000 after buying an additional 4,941 shares during the last quarter. Hilton Capital Management LLC boosted its holdings in shares of Apollo Global Management by 2.1% during the 3rd quarter. Hilton Capital Management LLC now owns 82,515 shares of the financial services provider’s stock worth $10,307,000 after buying an additional 1,711 shares during the period. Finally, Commerce Bank grew its stake in Apollo Global Management by 2.9% in the 3rd quarter. Commerce Bank now owns 100,104 shares of the financial services provider’s stock valued at $12,504,000 after buying an additional 2,784 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
APO has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Barclays boosted their price target on Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. BMO Capital Markets increased their price objective on Apollo Global Management from $138.00 to $157.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. UBS Group raised Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company upped their price target on shares of Apollo Global Management from $149.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and an average target price of $155.05.
Apollo Global Management Price Performance
Shares of APO stock opened at $167.56 on Friday. Apollo Global Management, Inc. has a twelve month low of $88.58 and a twelve month high of $169.58. 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 business has a fifty day simple moving average of $143.02 and a 200 day simple moving average of $124.53. The company has a market cap of $94.81 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.70 and a beta of 1.59.
Apollo Global Management Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a $0.463 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Monday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.33%.
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.
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