Bank of New York Mellon Corp Grows Position in Apollo Global Management Inc. $APO

Bank of New York Mellon Corp raised its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 2.0% during the third quarter, HoldingsChannel reports. The firm owned 2,451,537 shares of the financial services provider’s stock after purchasing an additional 48,053 shares during the quarter. Bank of New York Mellon Corp’s holdings in Apollo Global Management were worth $326,716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in Apollo Global Management by 1.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,050,164 shares of the financial services provider’s stock worth $432,727,000 after acquiring an additional 36,866 shares during the last quarter. Amundi raised its stake in shares of Apollo Global Management by 68.9% in the second quarter. Amundi now owns 1,311,102 shares of the financial services provider’s stock worth $187,199,000 after purchasing an additional 534,904 shares during the last quarter. Heard Capital LLC lifted its holdings in shares of Apollo Global Management by 14.1% during the second quarter. Heard Capital LLC now owns 1,274,970 shares of the financial services provider’s stock worth $180,880,000 after purchasing an additional 157,750 shares during the period. Swiss National Bank boosted its position in Apollo Global Management by 8.2% in the second quarter. Swiss National Bank now owns 1,208,914 shares of the financial services provider’s stock valued at $171,509,000 after buying an additional 91,800 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Apollo Global Management by 9.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,051,306 shares of the financial services provider’s stock worth $140,108,000 after buying an additional 88,792 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Up 1.1%

Shares of APO opened at $134.39 on Friday. The firm has a market cap of $78.00 billion, a P/E ratio of 19.65, a PEG ratio of 1.19 and a beta of 1.59. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $174.91. The stock’s 50 day moving average is $141.51 and its two-hundred day moving average is $137.50. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.33.

Apollo Global Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Monday, November 17th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, November 17th. Apollo Global Management’s payout ratio is presently 29.82%.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 6,000 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $131.41, for a total transaction of $788,460.00. Following the transaction, the chief financial officer directly owned 325,604 shares of the company’s stock, valued at $42,787,621.64. This trade represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on APO. Morgan Stanley raised shares of Apollo Global Management from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $151.00 to $180.00 in a report on Thursday, November 20th. Wolfe Research reaffirmed an “outperform” rating on shares of Apollo Global Management in a research report on Wednesday, January 7th. UBS Group lowered their target price on Apollo Global Management from $186.00 to $182.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Barclays reduced their price target on Apollo Global Management from $172.00 to $168.00 and set an “overweight” rating for the company in a research report on Friday, January 9th. Finally, Piper Sandler restated an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Apollo Global Management has a consensus rating of “Moderate Buy” and a consensus target price of $165.62.

Apollo Global Management Company Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.