CDAM UK Ltd acquired a new stake in shares of Apollo Global Management LLC (NYSE:APO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,306,716 shares of the financial services provider’s stock, valued at approximately $77,206,000. Apollo Global Management accounts for about 17.5% of CDAM UK Ltd’s portfolio, making the stock its largest holding.
Other hedge funds have also modified their holdings of the company. Stelac Advisory Services LLC bought a new position in Apollo Global Management in the 3rd quarter worth $117,000. Camarda Financial Advisors LLC bought a new position in Apollo Global Management in the 4th quarter worth $186,000. Waratah Capital Advisors Ltd. bought a new position in Apollo Global Management in the 4th quarter worth $203,000. First Midwest Bank Trust Division bought a new position in Apollo Global Management in the 3rd quarter worth $232,000. Finally, Bank of New York Mellon Corp bought a new position in Apollo Global Management in the 2nd quarter worth $240,000. 72.65% of the stock is owned by hedge funds and other institutional investors.
Shares of Apollo Global Management LLC (APO) opened at $33.60 on Wednesday. The company has a market cap of $6,854.24, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. Apollo Global Management LLC has a one year low of $21.39 and a one year high of $37.35. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.52.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 21st will be paid a $0.66 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $2.64 annualized dividend and a yield of 7.86%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.39. Apollo Global Management’s payout ratio is presently 50.16%.
Several brokerages recently weighed in on APO. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $43.00 target price on shares of Apollo Global Management in a report on Thursday, February 1st. Zacks Investment Research raised shares of Apollo Global Management from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a report on Monday, November 6th. Jefferies Group upped their target price on shares of Apollo Global Management from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Credit Suisse Group upped their target price on shares of Apollo Global Management from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, November 2nd. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $39.00 target price (up previously from $34.00) on shares of Apollo Global Management in a report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $36.33.
In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $32.68, for a total value of $163,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joshua Harris sold 4,500,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $34.00, for a total transaction of $153,000,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,645,000 shares of company stock worth $157,994,650. Corporate insiders own 4.11% of the company’s stock.
Apollo Global Management Company Profile
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.
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