Apollo Global Management, Inc. (NYSE:APO) Sees Large Increase in Short Interest

Apollo Global Management, Inc. (NYSE:APO) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 36,720,000 shares, a growth of 20.7% from the December 15th total of 30,420,000 shares. Based on an average daily trading volume, of 5,210,000 shares, the days-to-cover ratio is presently 7.0 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on APO shares. Evercore ISI increased their target price on shares of Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Piper Sandler increased their price objective on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Morgan Stanley boosted their target price on Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. UBS Group upgraded Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods boosted their price objective on Apollo Global Management from $168.00 to $196.00 and gave the company an “outperform” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.32.

Apollo Global Management Price Performance

NYSE APO opened at $166.81 on Friday. The company has a market cap of $94.38 billion, a PE ratio of 17.43, a P/E/G ratio of 1.20 and a beta of 1.63. The firm’s 50 day moving average price is $169.18 and its 200-day moving average price is $139.82. 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 has a 52-week low of $95.11 and a 52-week high of $189.49.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were given a dividend of $0.463 per share. This represents a $1.85 annualized dividend and a yield of 1.11%. The ex-dividend date was Monday, November 18th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is 19.33%.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred on 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. The trade was a 1.54 % decrease in their position. The sale 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 on Wednesday, December 4th. The shares were sold at an average price of $173.37, for a total value of $10,090,134.00. Following the sale, the insider now owns 35,104,773 shares in the company, valued at $6,086,114,495.01. The trade was a 0.17 % 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 quarter. 8.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Partners Group Holding AG raised its stake in shares of Apollo Global Management by 26.5% during the 3rd quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider’s stock worth $96,896,000 after acquiring an additional 162,678 shares in the last quarter. Swedbank AB grew its holdings in Apollo Global Management by 50.9% in the third quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock worth $9,735,000 after purchasing an additional 26,300 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Apollo Global Management by 34.1% during the third quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock worth $2,428,000 after purchasing an additional 4,941 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Apollo Global Management by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after purchasing an additional 254,268 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Apollo Global Management by 0.4% in the 3rd quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock worth $147,670,000 after purchasing an additional 4,600 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

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.