Bank of New York Mellon Corp Has $392.65 Million Stake in Apollo Global Management Inc. $APO

Bank of New York Mellon Corp boosted its position in shares of Apollo Global Management Inc. (NYSE:APO) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,712,442 shares of the financial services provider’s stock after acquiring an additional 260,905 shares during the period. Bank of New York Mellon Corp’s holdings in Apollo Global Management were worth $392,653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Chesapeake Asset Management LLC lifted its position in Apollo Global Management by 3.6% during the 4th quarter. Chesapeake Asset Management LLC now owns 2,065 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 72 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its position in Apollo Global Management by 1.4% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 5,553 shares of the financial services provider’s stock worth $740,000 after acquiring an additional 78 shares during the last quarter. Mitchell & Pahl Private Wealth LLC lifted its position in Apollo Global Management by 0.8% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider’s stock worth $1,383,000 after acquiring an additional 80 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Apollo Global Management by 16.9% during the third quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock valued at $75,000 after buying an additional 82 shares during the last quarter. Finally, United Advisor Group LLC raised its position in shares of Apollo Global Management by 4.7% during the fourth quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider’s stock valued at $282,000 after buying an additional 87 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Morgan Stanley cut their price objective on shares of Apollo Global Management from $181.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Argus raised shares of Apollo Global Management to a “strong-buy” rating in a research report on Thursday, February 19th. UBS Group upped their price objective on shares of Apollo Global Management from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.23.

Insiders Place Their Bets

In related news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the sale, the insider owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.30% of the stock is currently owned by insiders.

Apollo Global Management Stock Performance

NYSE APO opened at $128.26 on Friday. The stock has a market cap of $73.95 billion, a P/E ratio of 81.70, a PEG ratio of 1.07 and a beta of 1.50. The company’s 50-day simple moving average is $122.44 and its 200 day simple moving average is $127.79. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $157.28. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.45.

Apollo Global Management (NYSE:APO) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.82 earnings per share. As a group, research analysts forecast that Apollo Global Management Inc. will post 8.28 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were paid a $0.5625 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 dividend on an annualized basis and a yield of 1.8%. Apollo Global Management’s payout ratio is presently 143.31%.

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.