Rhumbline Advisers Boosts Holdings in Apollo Global Management, Inc. (NYSE:APO)

Rhumbline Advisers lifted its holdings in Apollo Global Management, Inc. (NYSE:APO) by 39.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 823,142 shares of the financial services provider’s stock after buying an additional 232,298 shares during the period. Rhumbline Advisers’ holdings in Apollo Global Management were worth $135,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of APO. Byrne Asset Management LLC purchased a new position in shares of Apollo Global Management in the fourth quarter worth about $37,000. Retirement Wealth Solutions LLC purchased a new position in shares of Apollo Global Management in the fourth quarter worth about $39,000. UMB Bank n.a. increased its position in Apollo Global Management by 447.1% during the fourth quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 228 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Apollo Global Management during the third quarter worth about $80,000. Finally, Truvestments Capital LLC acquired a new stake in Apollo Global Management during the third quarter worth about $83,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APO has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. TD Cowen raised their price objective on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Barclays raised their price objective on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. The Goldman Sachs Group raised their price objective on shares of Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, UBS Group upgraded shares of Apollo Global Management to a “hold” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $165.74.

Apollo Global Management Trading Up 3.2 %

Shares of APO stock opened at $162.95 on Friday. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The company has a 50 day moving average price of $167.64 and a 200 day moving average price of $146.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $92.20 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 1.28 and a beta of 1.63.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Tuesday, February 18th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.14%. Apollo Global Management’s dividend payout ratio is currently 25.31%.

Insider Buying and Selling

In related news, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $174.16, for a total value of $23,232,944.00. Following the completion of the transaction, the insider now owns 35,471,373 shares in the company, valued at $6,177,694,321.68. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now owns 377,164 shares of the company’s stock, valued at $59,697,517.92. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 201,600 shares of company stock worth $34,977,528 over the last 90 days. 8.50% of the stock is owned by insiders.

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.