Apollo Global Management, Inc. (NYSE:APO) Position Boosted by Suvretta Capital Management LLC

Suvretta Capital Management LLC grew its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 31.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 465,050 shares of the financial services provider’s stock after purchasing an additional 110,564 shares during the period. Apollo Global Management makes up 1.9% of Suvretta Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Suvretta Capital Management LLC owned 0.08% of Apollo Global Management worth $58,089,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new position in shares of Apollo Global Management during the 2nd quarter valued at about $35,000. Compagnie Lombard Odier SCmA bought a new position in shares of Apollo Global Management during the 3rd quarter valued at about $35,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Apollo Global Management by 293.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 346 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Apollo Global Management during the third quarter valued at about $80,000. Finally, Mather Group LLC. lifted its stake in Apollo Global Management by 826.9% during the second quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock valued at $81,000 after buying an additional 645 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the subject of a number of analyst reports. UBS Group raised shares of Apollo Global Management to a “hold” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group upped their price objective on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Barclays upped their price objective on shares of Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. TD Cowen upped their price objective on shares of Apollo Global Management from $165.00 to $178.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $124.00 to $123.00 in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Apollo Global Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.05.

Apollo Global Management Price Performance

Shares of APO opened at $173.85 on Friday. The firm has a market cap of $98.37 billion, a PE ratio of 18.17, a PEG ratio of 1.80 and a beta of 1.59. The firm’s 50 day moving average price is $146.45 and its 200 day moving average price is $125.83. 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 twelve month low of $88.58 and a twelve month high of $176.75.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be given a dividend of $0.463 per share. This represents a $1.85 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Monday, November 18th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.33%.

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.