Foundations Investment Advisors LLC Buys New Stake in Apollo Global Management, Inc. (NYSE:APO)

Foundations Investment Advisors LLC bought a new stake in Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 51,642 shares of the financial services provider’s stock, valued at approximately $8,529,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Apollo Global Management by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after buying an additional 383,557 shares during the last quarter. International Assets Investment Management LLC lifted its position in Apollo Global Management by 12,086.7% in the third quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock worth $462,460,000 after buying an additional 367,195 shares during the last quarter. Holocene Advisors LP lifted its position in Apollo Global Management by 530.9% in the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock worth $50,242,000 after buying an additional 338,472 shares during the last quarter. Geode Capital Management LLC lifted its position in Apollo Global Management by 4.7% in the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after buying an additional 254,268 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Apollo Global Management by 43.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 767,014 shares of the financial services provider’s stock worth $95,808,000 after buying an additional 233,670 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Down 2.5 %

Shares of NYSE:APO opened at $167.82 on Monday. The business has a 50-day moving average price of $169.66 and a 200 day moving average price of $141.77. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $94.96 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.36 and a beta of 1.63. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were issued a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.10%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is 19.33%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup lifted their target price on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. BMO Capital Markets lifted their price objective on Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Barclays boosted their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. TD Cowen boosted their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. 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 company’s stock. Based on data from MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and an average target price of $164.32.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now owns 320,564 shares in the company, valued at approximately $55,332,552.04. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction dated 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 of the company’s stock, valued at $6,177,694,321.68. The trade was a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 196,600 shares of company stock worth $34,186,128 in the last three months. 8.50% of the stock is owned by company insiders.

Apollo Global Management Company 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.