Heard Capital LLC Boosts Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Heard Capital LLC raised its position in Apollo Global Management, Inc. (NYSE:APO) by 16.0% during the third quarter, HoldingsChannel.com reports. The firm owned 753,523 shares of the financial services provider’s stock after purchasing an additional 103,938 shares during the period. Apollo Global Management makes up 5.3% of Heard Capital LLC’s portfolio, making the stock its 11th biggest position. Heard Capital LLC’s holdings in Apollo Global Management were worth $94,123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Partners Group Holding AG raised its position 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 valued at $96,896,000 after buying an additional 162,678 shares during the period. Swedbank AB grew its position in shares of Apollo Global Management by 50.9% in the third quarter. Swedbank AB now owns 77,938 shares of the financial services provider’s stock valued at $9,735,000 after purchasing an additional 26,300 shares during the period. Advisors Asset Management Inc. raised its holdings in Apollo Global Management by 34.1% in the third quarter. Advisors Asset Management Inc. now owns 19,441 shares of the financial services provider’s stock valued at $2,428,000 after acquiring an additional 4,941 shares in the last quarter. Swiss National Bank increased its position in 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 worth $147,670,000 after buying an additional 4,600 shares during the period. Finally, MSA Advisors LLC increased its position in shares of Apollo Global Management by 8.2% during the 3rd quarter. MSA Advisors LLC now owns 876,702 shares of the financial services provider’s stock valued at $109,509,000 after purchasing an additional 66,600 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

NYSE:APO opened at $172.34 on Tuesday. 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 firm has a 50 day moving average of $148.51 and a 200-day moving average of $126.81. Apollo Global Management, Inc. has a 1 year low of $88.58 and a 1 year high of $176.75. The stock has a market capitalization of $97.51 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 1.81 and a beta of 1.59.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a dividend of $0.463 per share. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Monday, November 18th. Apollo Global Management’s dividend payout ratio is currently 19.33%.

Analyst Ratings Changes

Several research firms have recently weighed in on APO. Wolfe Research assumed coverage on Apollo Global Management in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 price objective for the company. Piper Sandler began coverage on shares of Apollo Global Management in a research report on Tuesday, November 19th. They issued an “overweight” rating and a $188.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Apollo Global Management from $129.00 to $143.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Barclays boosted their target price on Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, Citigroup increased their price objective on Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and an average target price of $155.05.

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.