Keystone Investors PTE Ltd. Invests $36.11 Million in Apollo Global Management, Inc. (NYSE:APO)

Keystone Investors PTE Ltd. bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 218,652 shares of the financial services provider’s stock, valued at approximately $36,113,000. Apollo Global Management makes up 2.5% of Keystone Investors PTE Ltd.’s investment portfolio, making the stock its 14th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Apollo Global Management by 8.9% during the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock worth $7,454,560,000 after buying an additional 3,691,700 shares in the last quarter. Geode Capital Management LLC raised its stake in Apollo Global Management by 4.7% during the third quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after acquiring an additional 254,268 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Apollo Global Management by 60.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after purchasing an additional 1,094,464 shares during the last quarter. Bank of New York Mellon Corp raised its position in Apollo Global Management by 42.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock valued at $436,148,000 after purchasing an additional 782,700 shares during the last quarter. Finally, TD Asset Management Inc. boosted its stake in shares of Apollo Global Management by 13.6% during the fourth quarter. TD Asset Management Inc. now owns 2,473,237 shares of the financial services provider’s stock valued at $408,480,000 after purchasing an additional 296,951 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Up 3.6 %

Shares of NYSE APO opened at $148.59 on Tuesday. The stock has a market capitalization of $84.77 billion, a P/E ratio of 20.33, a PEG ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The firm’s 50 day simple moving average is $154.19 and its two-hundred day simple moving average is $152.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Insider Transactions at Apollo Global Management

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

Analyst Ratings Changes

Several equities research analysts recently commented on APO shares. BMO Capital Markets lifted their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Barclays increased their price objective on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Piper Sandler upped their price target on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Morgan Stanley raised their price objective on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Finally, TD Cowen upped their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $165.21.

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.