11,686 Shares in Apollo Global Management, Inc. (NYSE:APO) Acquired by Allstate Corp

Allstate Corp bought a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,686 shares of the financial services provider’s stock, valued at approximately $1,930,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in APO. Fisher Asset Management LLC acquired a new stake in shares of Apollo Global Management during the third quarter worth $215,000. D.A. Davidson & CO. grew its holdings in Apollo Global Management by 109.2% during the 3rd quarter. D.A. Davidson & CO. now owns 9,630 shares of the financial services provider’s stock worth $1,203,000 after acquiring an additional 5,026 shares during the period. Townsquare Capital LLC raised its position in shares of Apollo Global Management by 12.0% in the 3rd quarter. Townsquare Capital LLC now owns 11,681 shares of the financial services provider’s stock worth $1,459,000 after acquiring an additional 1,252 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its stake in shares of Apollo Global Management by 11.7% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 3,831 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 400 shares during the period. Finally, Point72 Europe London LLP boosted its position in shares of Apollo Global Management by 98.1% during the 3rd quarter. Point72 Europe London LLP now owns 94,701 shares of the financial services provider’s stock valued at $11,829,000 after purchasing an additional 46,894 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the sale, the chief financial officer now directly owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the insider now owns 34,604,773 shares of the company’s stock, valued at approximately $4,913,877,766. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

NYSE APO opened at $136.89 on Friday. The company has a fifty day moving average price of $152.47 and a 200-day moving average price of $153.27. The firm has a market cap of $78.09 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.17 and a beta of 1.66. 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, Inc. has a 1 year low of $95.11 and a 1 year high of $189.49.

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 paid a $0.4625 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.35%. Apollo Global Management’s dividend payout ratio (DPR) is 25.31%.

Analysts Set New Price Targets

Several equities analysts have issued reports on APO shares. Wells Fargo & Company dropped their price target on Apollo Global Management from $187.00 to $177.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. BMO Capital Markets boosted their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Barclays raised their price target on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Finally, Piper Sandler raised their target price on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently 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.