Apollo Global Management Inc. $APO Stock: Keybank National Association OH Grows Holdings

Keybank National Association OH grew its holdings in Apollo Global Management Inc. (NYSE:APO) by 2,366.0% during the third quarter, HoldingsChannel reports. The firm owned 146,677 shares of the financial services provider’s stock after acquiring an additional 140,729 shares during the period. Keybank National Association OH’s holdings in Apollo Global Management were worth $17,023,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Apollo Global Management by 4.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider’s stock worth $669,372,000 after purchasing an additional 234,517 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Apollo Global Management in the second quarter valued at approximately $459,987,000. Bank of New York Mellon Corp increased its holdings in shares of Apollo Global Management by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 2,901,110 shares of the financial services provider’s stock valued at $323,242,000 after purchasing an additional 188,668 shares during the last quarter. Temasek Holdings Private Ltd increased its holdings in shares of Apollo Global Management by 214.4% in the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider’s stock valued at $263,861,000 after purchasing an additional 1,614,813 shares during the last quarter. Finally, Curated Wealth Partners LLC increased its holdings in shares of Apollo Global Management by 91.8% in the third quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider’s stock valued at $255,887,000 after purchasing an additional 1,055,818 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Whitney Chatterjee sold 7,339 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $117.83, for a total value of $864,754.37. Following the transaction, the insider directly owned 129,151 shares in the company, valued at approximately $15,217,862.33. This represents a 5.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Martin Kelly sold 3,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the transaction, the chief financial officer owned 396,533 shares of the company’s stock, valued at $55,847,707.72. The trade was a 0.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Cowen reduced their price objective on Apollo Global Management from $154.00 to $136.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. The Goldman Sachs Group cut their target price on Apollo Global Management from $154.00 to $148.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. Argus cut their target price on Apollo Global Management from $160.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, November 6th. Wall Street Zen lowered Apollo Global Management from a “hold” rating to a “strong sell” rating in a report on Saturday, November 7th. Finally, HSBC initiated coverage on shares of Apollo Global Management in a research report on Monday, July 20th. They set a “buy” rating and a $145.00 price target on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.21.

Apollo Global Management Stock Performance

Apollo Global Management stock opened at $123.06 on Thursday. The firm has a 50 day simple moving average of $120.07 and a 200-day simple moving average of $122.71. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market cap of $72.67 billion, a price-to-earnings ratio of -67.25, a price-to-earnings-growth ratio of 1.16 and a beta of 1.51.

Apollo Global Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Wednesday, November 18th will be issued a $0.5625 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $2.25 dividend on an annualized basis and a yield of 1.8%. Apollo Global Management’s dividend payout ratio is currently -122.95%.

About Apollo Global Management

Apollo Global Management is a global alternative asset manager that provides investment management and retirement services. Its investment strategies span private equity, credit and real assets, including infrastructure, and it serves institutional and individual investors. The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan. It has since expanded its investment businesses and retirement-services operations, including through Athene, its retirement services platform. Apollo operates across global markets and is led by co-founder Marc Rowan, who serves as chief executive officer.