ING Groep NV Acquires New Shares in Apollo Global Management, Inc. (NYSE:APO)

ING Groep NV bought a new position in Apollo Global Management, Inc. (NYSE:APO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,203 shares of the financial services provider’s stock, valued at approximately $3,337,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Byrne Asset Management LLC acquired a new position in shares of Apollo Global Management during the fourth quarter worth approximately $37,000. Retirement Wealth Solutions LLC acquired a new position in Apollo Global Management during the 4th quarter worth $39,000. UMB Bank n.a. grew its stake in shares of Apollo Global Management by 447.1% in 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 in the last quarter. Versant Capital Management Inc increased its holdings in shares of Apollo Global Management by 203.6% during the fourth quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 336 shares during the period. Finally, Y.D. More Investments Ltd bought a new stake in shares of Apollo Global Management during the fourth quarter valued at about $89,000. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Trading Down 4.0 %

Apollo Global Management stock opened at $150.45 on Friday. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. 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 firm has a market capitalization of $85.12 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 1.21 and a beta of 1.63. The company has a 50 day moving average price of $165.90 and a 200 day moving average price of $147.83.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.23%. Apollo Global Management’s dividend payout ratio is 25.31%.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred 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 directly owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Leon D. Black sold 58,200 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the completion of the sale, the insider now owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. The trade was a 0.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,600 shares of company stock valued at $34,977,528. Company insiders own 8.50% of the company’s stock.

Analysts Set New Price Targets

APO has been the subject of a number of recent analyst reports. BMO Capital Markets increased their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. TD Cowen raised 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. Citigroup boosted their target price on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Barclays increased their price target on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Piper Sandler boosted their price objective on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.74.

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.