Apollo Global Management, Inc. (NYSE:APO) Stake Decreased by TCW Group Inc.

TCW Group Inc. lessened its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 455,739 shares of the financial services provider’s stock after selling 26,190 shares during the period. TCW Group Inc. owned 0.08% of Apollo Global Management worth $42,477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in APO. Strategic Blueprint LLC increased its stake in shares of Apollo Global Management by 42.4% during the fourth quarter. Strategic Blueprint LLC now owns 46,585 shares of the financial services provider’s stock valued at $4,341,000 after acquiring an additional 13,870 shares during the period. Principal Financial Group Inc. raised its holdings in Apollo Global Management by 287.5% during the fourth quarter. Principal Financial Group Inc. now owns 307,786 shares of the financial services provider’s stock worth $28,683,000 after purchasing an additional 228,367 shares in the last quarter. Nordea Investment Management AB raised its holdings in Apollo Global Management by 129.8% during the fourth quarter. Nordea Investment Management AB now owns 658,008 shares of the financial services provider’s stock worth $61,497,000 after purchasing an additional 371,721 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Apollo Global Management by 32.7% during the fourth quarter. Victory Capital Management Inc. now owns 355,707 shares of the financial services provider’s stock worth $33,148,000 after purchasing an additional 87,688 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Apollo Global Management by 39.1% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 185,206 shares of the financial services provider’s stock worth $17,259,000 after purchasing an additional 52,063 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Apollo Global Management stock traded down $0.96 during mid-day trading on Thursday, hitting $112.88. 1,260,191 shares of the company were exchanged, compared to its average volume of 2,283,788. Apollo Global Management, Inc. has a 1-year low of $62.63 and a 1-year high of $117.15. The company has a market capitalization of $64.13 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 0.94 and a beta of 1.61. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $111.73 and a 200 day moving average of $102.80.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.463 dividend. The ex-dividend date is Thursday, May 16th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.43. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.64%. Apollo Global Management’s dividend payout ratio (DPR) is 20.49%.

Insider Activity

In other news, insider Leon D. Black sold 300,000 shares of the firm’s stock in a transaction on Saturday, February 24th. The stock was sold at an average price of $111.51, for a total value of $33,453,000.00. Following the completion of the sale, the insider now directly owns 43,054,773 shares in the company, valued at $4,801,037,737.23. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Leon D. Black sold 450,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $110.71, for a total value of $49,819,500.00. Following the transaction, the insider now owns 42,604,773 shares in the company, valued at $4,716,774,418.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Leon D. Black sold 300,000 shares of the firm’s stock in a transaction dated Saturday, February 24th. The stock was sold at an average price of $111.51, for a total value of $33,453,000.00. Following the transaction, the insider now owns 43,054,773 shares in the company, valued at approximately $4,801,037,737.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 780,000 shares of company stock worth $86,611,200. 8.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on APO. Citigroup boosted their target price on Apollo Global Management from $111.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Morgan Stanley boosted their target price on Apollo Global Management from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Evercore ISI upped their price target on Apollo Global Management from $120.00 to $128.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. upped their price target on Apollo Global Management from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Finally, Barclays dropped their price target on Apollo Global Management from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and a consensus price target of $115.62.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.