Wilmington Savings Fund Society FSB Acquires Shares of 4,027 Apollo Global Management, Inc. (NYSE:APO)

Wilmington Savings Fund Society FSB acquired a new position in shares of Apollo Global Management, Inc. (NYSE:APO) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,027 shares of the financial services provider’s stock, valued at approximately $503,000.

Other hedge funds also recently made changes to their positions in the company. Partners Group Holding AG raised its holdings in Apollo Global Management by 26.5% during the third quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock worth $96,896,000 after purchasing an additional 162,678 shares in the last quarter. Swedbank AB raised its stake in shares of Apollo Global Management by 50.9% during the 3rd quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock worth $9,735,000 after buying an additional 26,300 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Apollo Global Management by 34.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock valued at $2,428,000 after buying an additional 4,941 shares during the period. Swiss National Bank boosted its stake in shares of Apollo Global Management by 0.4% in the third quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock valued at $147,670,000 after buying an additional 4,600 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Apollo Global Management by 4.7% during 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 acquiring an additional 254,268 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on APO. Citigroup raised their target price on Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley boosted their price objective on shares of Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. UBS Group raised shares of Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler started coverage on Apollo Global Management in a report on Tuesday, November 19th. They issued an “overweight” rating and a $188.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average price target of $160.89.

Apollo Global Management Stock Performance

Shares of APO opened at $178.16 on Tuesday. The company has a market capitalization of $100.81 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.84 and a beta of 1.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. Apollo Global Management, Inc. has a 1 year low of $89.76 and a 1 year high of $189.49. The company’s 50 day simple moving average is $158.79 and its 200 day simple moving average is $131.56.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a dividend of $0.463 per share. 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. This represents a $1.85 annualized dividend and a dividend yield of 1.04%. Apollo Global Management’s dividend payout ratio (DPR) is 19.33%.

Insider Activity

In related news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the sale, the chief financial officer now directly owns 320,564 shares in the company, valued at approximately $55,332,552.04. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 transaction, the insider now directly owns 35,104,773 shares in the company, valued at approximately $6,086,114,495.01. This represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 196,600 shares of company stock valued at $34,186,128 over the last quarter. Company insiders own 8.50% of the company’s stock.

Apollo Global Management 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.