Gateway Investment Advisers LLC Takes Position in Apollo Global Management Inc. $APO

Gateway Investment Advisers LLC purchased a new position in Apollo Global Management Inc. (NYSE:APO) during the third quarter, HoldingsChannel reports. The firm purchased 162,322 shares of the financial services provider’s stock, valued at approximately $21,633,000.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Apollo Global Management by 1.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,050,164 shares of the financial services provider’s stock worth $432,727,000 after purchasing an additional 36,866 shares during the last quarter. Amundi increased its position in shares of Apollo Global Management by 68.9% during the 2nd quarter. Amundi now owns 1,311,102 shares of the financial services provider’s stock valued at $187,199,000 after purchasing an additional 534,904 shares during the last quarter. Heard Capital LLC lifted its stake in shares of Apollo Global Management by 14.1% in the 2nd quarter. Heard Capital LLC now owns 1,274,970 shares of the financial services provider’s stock worth $180,880,000 after purchasing an additional 157,750 shares during the period. Swiss National Bank boosted its holdings in shares of Apollo Global Management by 8.2% in the second quarter. Swiss National Bank now owns 1,208,914 shares of the financial services provider’s stock worth $171,509,000 after buying an additional 91,800 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Apollo Global Management by 0.6% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 962,514 shares of the financial services provider’s stock valued at $136,552,000 after buying an additional 6,117 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Price Performance

Shares of Apollo Global Management stock opened at $146.45 on Friday. The company has a market capitalization of $85.00 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.27 and a beta of 1.59. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.33. The stock’s 50-day simple moving average is $136.44 and its 200-day simple moving average is $137.43. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $174.91.

Apollo Global Management Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have weighed in on APO. BMO Capital Markets set a $136.00 price target on shares of Apollo Global Management and gave the stock a “market perform” rating in a research report on Tuesday, November 25th. UBS Group initiated coverage on Apollo Global Management in a research note on Thursday, December 11th. They issued a “buy” rating and a $186.00 price objective for the company. Morgan Stanley upgraded Apollo Global Management from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $151.00 to $180.00 in a research report on Thursday, November 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a report on Monday, December 29th. Finally, Wall Street Zen raised Apollo Global Management from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.23.

Insider Transactions at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 6,000 shares of the 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 of the company’s stock, valued at $42,787,621.64. This trade represents a 1.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.20% of the stock is currently owned by company insiders.

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.