Factory Mutual Insurance Co. Sells 70,000 Shares of Apollo Global Management, Inc. (NYSE:APO)

Factory Mutual Insurance Co. trimmed its position in Apollo Global Management, Inc. (NYSE:APO) by 49.8% in the fourth quarter, Holdings Channel reports. The fund owned 70,600 shares of the financial services provider’s stock after selling 70,000 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Apollo Global Management were worth $11,660,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Apollo Global Management by 27.0% during 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 last quarter. International Assets Investment Management LLC raised its position in Apollo Global Management by 12,086.7% during the 3rd quarter. International Assets Investment Management LLC now owns 370,233 shares of the financial services provider’s stock worth $462,460,000 after purchasing an additional 367,195 shares during the last quarter. Holocene Advisors LP raised its position in Apollo Global Management by 530.9% during the 3rd quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock worth $50,242,000 after purchasing an additional 338,472 shares during the last quarter. Geode Capital Management LLC raised its position in Apollo Global Management by 4.7% during 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 last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Apollo Global Management by 43.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 767,014 shares of the financial services provider’s stock worth $95,808,000 after purchasing an additional 233,670 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, insider Leon D. Black sold 58,200 shares of Apollo Global Management stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $173.37, for a total transaction of $10,090,134.00. Following the completion of the transaction, the insider now owns 35,104,773 shares in the company, valued at approximately $6,086,114,495.01. The trade was a 0.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $172.61, for a total value of $863,050.00. Following the transaction, the chief financial officer now owns 320,564 shares of the company’s stock, valued at $55,332,552.04. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,600 shares of company stock worth $34,186,128. Insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

Shares of APO opened at $171.00 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a 50-day moving average of $170.11 and a 200-day moving average of $143.18. The company has a market cap of $96.75 billion, a PE ratio of 17.87, a P/E/G ratio of 1.37 and a beta of 1.63. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were paid a dividend of $0.463 per share. The ex-dividend date was Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.08%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s payout ratio is 19.33%.

Analysts Set New Price Targets

Several research analysts recently issued reports on APO shares. Morgan Stanley raised their target price on Apollo Global Management from $111.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods raised their target price on Apollo Global Management from $168.00 to $196.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. TD Cowen increased their price target on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, December 9th. StockNews.com downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. Finally, UBS Group upgraded Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.32.

About Apollo Global Management

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.