Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in Apollo Global Management Inc. $APO

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 9.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,051,306 shares of the financial services provider’s stock after buying an additional 88,792 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.18% of Apollo Global Management worth $140,108,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of APO. Delos Wealth Advisors LLC bought a new position in shares of Apollo Global Management during the second quarter valued at $25,000. Activest Wealth Management grew its position in Apollo Global Management by 875.0% during the 2nd quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 175 shares during the last quarter. SJS Investment Consulting Inc. increased its stake in Apollo Global Management by 1,123.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 208 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 191 shares in the last quarter. Nemes Rush Group LLC purchased a new position in Apollo Global Management in the second quarter worth about $30,000. Finally, Rosenberg Matthew Hamilton lifted its stake in shares of Apollo Global Management by 6,900.0% in the second quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock worth $30,000 after buying an additional 207 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APO has been the subject of several analyst reports. Citigroup reduced their price target on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Evercore ISI lifted their target price on Apollo Global Management from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Morgan Stanley raised Apollo Global Management from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $151.00 to $180.00 in a report on Thursday, November 20th. BMO Capital Markets set a $136.00 price objective on Apollo Global Management and gave the stock a “market perform” rating in a report on Tuesday, November 25th. Finally, Wolfe Research restated an “outperform” rating on shares of Apollo Global Management in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $165.62.

Insider Activity

In related news, CFO Martin Kelly sold 6,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 325,604 shares in the company, valued at approximately $42,787,621.64. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Down 0.4%

APO stock opened at $143.28 on Wednesday. The company has a market cap of $83.16 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 1.25 and a beta of 1.59. 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 business’s 50-day moving average is $139.40 and its two-hundred day moving average is $137.91. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $174.91.

Apollo Global Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Monday, November 17th were issued a $0.51 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. Apollo Global Management’s dividend payout ratio (DPR) is presently 29.82%.

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.