Brown Brothers Harriman & Co. Boosts Stake in Apollo Global Management, Inc. (NYSE:APO)

Brown Brothers Harriman & Co. lifted its holdings in Apollo Global Management, Inc. (NYSE:APO) by 13.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,826 shares of the financial services provider’s stock after buying an additional 333 shares during the period. Brown Brothers Harriman & Co.’s holdings in Apollo Global Management were worth $467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. DnB Asset Management AS grew its stake in Apollo Global Management by 28.0% in the 4th quarter. DnB Asset Management AS now owns 208,439 shares of the financial services provider’s stock valued at $34,426,000 after purchasing an additional 45,659 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of Apollo Global Management by 3.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 13,276 shares of the financial services provider’s stock worth $2,193,000 after buying an additional 485 shares during the last quarter. Pictet Asset Management Holding SA grew its position in Apollo Global Management by 12.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 172,195 shares of the financial services provider’s stock valued at $28,440,000 after buying an additional 19,381 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Apollo Global Management by 22.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 269,113 shares of the financial services provider’s stock worth $44,447,000 after buying an additional 49,995 shares during the last quarter. Finally, Broadway Wealth Solutions Inc. bought a new stake in Apollo Global Management in the fourth quarter worth about $344,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

APO has been the subject of a number of research reports. StockNews.com downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Wells Fargo & Company reduced their price objective on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Piper Sandler boosted their target price on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. BMO Capital Markets increased their price target on Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, TD Cowen boosted their price objective on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.21.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 500,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This trade represents a 1.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total value of $791,400.00. Following the transaction, the chief financial officer now directly owns 377,164 shares in the company, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Price Performance

APO opened at $137.08 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The stock’s 50 day simple moving average is $151.87 and its 200 day simple moving average is $153.76. The firm has a market cap of $78.20 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

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.