Bessemer Group Inc. Buys 383,198 Shares of Apollo Global Management Inc. $APO

Bessemer Group Inc. grew its stake in Apollo Global Management Inc. (NYSE:APO) by 31.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,617,228 shares of the financial services provider’s stock after buying an additional 383,198 shares during the quarter. Bessemer Group Inc.’s holdings in Apollo Global Management were worth $215,530,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Apollo Global Management by 1.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,050,164 shares of the financial services provider’s stock valued at $432,727,000 after purchasing an additional 36,866 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Apollo Global Management by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,451,537 shares of the financial services provider’s stock worth $326,716,000 after purchasing an additional 48,053 shares in the last quarter. Amundi increased its position in shares of Apollo Global Management by 68.9% during the 2nd quarter. Amundi now owns 1,311,102 shares of the financial services provider’s stock valued at $187,199,000 after purchasing an additional 534,904 shares during the last quarter. Heard Capital LLC raised its holdings in shares of Apollo Global Management by 14.1% during the 2nd quarter. Heard Capital LLC now owns 1,274,970 shares of the financial services provider’s stock valued at $180,880,000 after buying an additional 157,750 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Apollo Global Management by 8.2% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Up 4.5%

NYSE APO opened at $132.61 on Thursday. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $168.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a 50 day simple moving average of $141.63 and a two-hundred day simple moving average of $136.86. The stock has a market cap of $76.97 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 1.14 and a beta of 1.57.

Analysts Set New Price Targets

APO has been the topic of a number of recent research reports. Citigroup reduced their price target on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $155.00 target price on shares of Apollo Global Management in a report on Tuesday, November 25th. TD Cowen reissued a “buy” rating on shares of Apollo Global Management in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apollo Global Management in a research note on Monday, December 29th. Finally, Wolfe Research reiterated an “outperform” rating on shares of Apollo Global Management in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $165.62.

Insider Buying and Selling

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

About Apollo Global Management

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.