Harbour Investments Inc. Grows Stock Holdings in Apollo Global Management, Inc. (NYSE:APO)

Harbour Investments Inc. lifted its position in Apollo Global Management, Inc. (NYSE:APO) by 154.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 409 shares of the financial services provider’s stock after buying an additional 248 shares during the quarter. Harbour Investments Inc.’s holdings in Apollo Global Management were worth $68,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Apollo Global Management by 60.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock worth $479,057,000 after purchasing an additional 1,094,464 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of 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 in the last quarter. Proficio Capital Partners LLC lifted its holdings in Apollo Global Management by 15,187.7% during the 4th quarter. Proficio Capital Partners LLC now owns 639,027 shares of the financial services provider’s stock worth $105,542,000 after buying an additional 634,847 shares in the last quarter. Principal Financial Group Inc. boosted its position in Apollo Global Management by 813.6% in the 4th quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock valued at $89,646,000 after buying an additional 483,369 shares during the period. Finally, Holocene Advisors LP grew its stake in shares of Apollo Global Management by 530.9% in the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock worth $50,242,000 after acquiring an additional 338,472 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Trading Down 0.9 %

APO opened at $143.53 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49. The business’s 50 day moving average is $154.31 and its two-hundred day moving average is $152.32. The firm has a market cap of $81.88 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a $0.4625 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.29%. Apollo Global Management’s payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on APO shares. StockNews.com cut Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. TD Cowen lifted 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. Barclays boosted their price objective on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. BMO Capital Markets raised their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their price target on shares of Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.21.

Insider Activity at Apollo Global Management

In related news, insider Leon D. Black sold 500,000 shares of the 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 completion of the transaction, the insider now directly owns 34,604,773 shares of the company’s stock, valued at $4,913,877,766. This represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management 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 completion of the sale, the chief financial officer now directly owns 377,164 shares in the company, valued at $59,697,517.92. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

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.