Myriad Asset Management US LP Purchases Shares of 13,248 Apollo Global Management, Inc. (NYSE:APO)

Myriad Asset Management US LP purchased a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) in the fourth quarter, Holdings Channel.com reports. The firm purchased 13,248 shares of the financial services provider’s stock, valued at approximately $2,188,000. Apollo Global Management accounts for about 1.5% of Myriad Asset Management US LP’s holdings, making the stock its 15th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Apollo Global Management by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock worth $713,230,000 after purchasing an additional 254,268 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Apollo Global Management by 27.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,806,098 shares of the financial services provider’s stock worth $225,600,000 after purchasing an additional 383,557 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Apollo Global Management by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 1,339,355 shares of the financial services provider’s stock worth $167,298,000 after purchasing an additional 4,892 shares during the period. Swiss National Bank raised its holdings in shares of Apollo Global Management by 0.4% in the 3rd quarter. Swiss National Bank now owns 1,182,214 shares of the financial services provider’s stock worth $147,670,000 after purchasing an additional 4,600 shares during the period. Finally, Fort Pitt Capital Group LLC raised its holdings in shares of Apollo Global Management by 10.5% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 1,100,686 shares of the financial services provider’s stock worth $137,487,000 after purchasing an additional 104,668 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company lowered their target price on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Barclays boosted their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, December 9th. UBS Group raised shares of Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Apollo Global Management from $141.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One equities research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $165.74.

Apollo Global Management Stock Performance

NYSE APO opened at $162.95 on Friday. The company has a 50-day simple moving average of $167.64 and a two-hundred day simple moving average of $145.96. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a 12-month low of $95.11 and a 12-month high of $189.49. The firm has a market cap of $92.20 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.28 and a beta of 1.63.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.4625 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.14%. Apollo Global Management’s payout ratio is 25.31%.

Insider Buying and Selling at Apollo Global Management

In other news, insider Leon D. Black sold 133,400 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the transaction, the insider now directly owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. This represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total transaction of $863,050.00. Following the transaction, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 201,600 shares of company stock worth $34,977,528 over the last three months. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Profile

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.