Russell Investments Group Ltd. Purchases 58,475 Shares of Apollo Global Management, Inc. (NYSE:APO)

Russell Investments Group Ltd. lifted its position in Apollo Global Management, Inc. (NYSE:APO) by 13.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 507,774 shares of the financial services provider’s stock after purchasing an additional 58,475 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of Apollo Global Management worth $38,999,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Arizona State Retirement System increased its holdings in shares of Apollo Global Management by 4.4% in the second quarter. Arizona State Retirement System now owns 114,183 shares of the financial services provider’s stock worth $8,770,000 after purchasing an additional 4,803 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Apollo Global Management by 24.9% in the first quarter. Signaturefd LLC now owns 7,028 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 1,403 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Apollo Global Management by 4.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 62,217 shares of the financial services provider’s stock worth $4,710,000 after acquiring an additional 2,562 shares during the last quarter. AE Wealth Management LLC bought a new stake in Apollo Global Management during the second quarter worth approximately $232,000. Finally, Truist Financial Corp increased its stake in Apollo Global Management by 1.4% during the second quarter. Truist Financial Corp now owns 209,393 shares of the financial services provider’s stock worth $16,083,000 after acquiring an additional 2,815 shares during the last quarter. 60.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

APO has been the topic of several analyst reports. Jefferies Financial Group boosted their price objective on Apollo Global Management from $97.00 to $100.00 in a research note on Tuesday, October 10th. The Goldman Sachs Group boosted their price objective on Apollo Global Management from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Morgan Stanley boosted their price objective on Apollo Global Management from $88.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 18th. BMO Capital Markets reduced their price objective on Apollo Global Management from $103.00 to $98.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Finally, Barclays reduced their price objective on Apollo Global Management from $109.00 to $106.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average target price of $95.82.

Apollo Global Management Stock Up 0.5 %

Shares of NYSE APO opened at $86.84 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market capitalization of $49.29 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 0.66 and a beta of 1.64. The stock has a 50 day moving average price of $87.05 and a 200 day moving average price of $79.80. Apollo Global Management, Inc. has a 52-week low of $55.16 and a 52-week high of $93.18.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 17th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.98%. Apollo Global Management’s payout ratio is 36.36%.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 20,000 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $86.08, for a total transaction of $1,721,600.00. Following the completion of the sale, the chief financial officer now owns 372,961 shares in the company, valued at $32,104,482.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Martin Kelly sold 20,000 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $86.08, for a total value of $1,721,600.00. Following the transaction, the chief financial officer now directly owns 372,961 shares of the company’s stock, valued at approximately $32,104,482.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director A B. Krongard bought 1,009 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was purchased at an average cost of $85.95 per share, for a total transaction of $86,723.55. Following the completion of the transaction, the director now owns 77,608 shares in the company, valued at $6,670,407.60. The disclosure for this purchase can be found here. 8.70% of the stock is owned by company insiders.

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.