DnB Asset Management AS Buys 45,659 Shares of Apollo Global Management, Inc. (NYSE:APO)

DnB Asset Management AS grew its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 28.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 208,439 shares of the financial services provider’s stock after buying an additional 45,659 shares during the quarter. DnB Asset Management AS’s holdings in Apollo Global Management were worth $34,426,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in APO. Hopwood Financial Services Inc. purchased a new stake in Apollo Global Management during the fourth quarter valued at about $33,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Apollo Global Management during the 4th quarter valued at about $34,000. Byrne Asset Management LLC bought a new stake in Apollo Global Management in the 4th quarter worth approximately $37,000. Retirement Wealth Solutions LLC purchased a new stake in Apollo Global Management in the fourth quarter worth approximately $39,000. Finally, HM Payson & Co. bought a new position in Apollo Global Management during the fourth quarter valued at approximately $45,000. 77.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APO. TD Cowen upped their price objective on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Barclays upped their price target on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Morgan Stanley raised their price target on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Finally, Keefe, Bruyette & Woods lowered their price objective on 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average price target of $165.21.

Apollo Global Management Trading Down 3.6 %

Shares of NYSE:APO opened at $136.89 on Friday. 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 capitalization of $78.09 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.17 and a beta of 1.66. 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’s 50-day simple moving average is $152.47 and its two-hundred day simple moving average is $152.95.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a $0.4625 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 annualized dividend and a dividend yield of 1.35%. Apollo Global Management’s dividend payout ratio (DPR) is 25.31%.

Insider Buying and Selling

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 transaction of $791,400.00. Following the transaction, the chief financial officer now owns 377,164 shares in the company, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 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 disclosure for this sale can be found here. 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.