NFC Investments LLC Has $51.75 Million Stake in Apollo Global Management, Inc. (NYSE:APO)

NFC Investments LLC cut its position in Apollo Global Management, Inc. (NYSE:APO) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 414,328 shares of the financial services provider’s stock after selling 1,784 shares during the quarter. Apollo Global Management comprises 14.9% of NFC Investments LLC’s holdings, making the stock its biggest position. NFC Investments LLC’s holdings in Apollo Global Management were worth $51,754,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Compagnie Lombard Odier SCmA acquired a new stake in Apollo Global Management in the 3rd quarter valued at about $35,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Apollo Global Management during the second quarter worth $35,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Apollo Global Management by 293.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 346 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Apollo Global Management in the 3rd quarter valued at $80,000. Finally, Truvestments Capital LLC acquired a new stake in Apollo Global Management during the 3rd quarter worth about $83,000. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

APO traded up $0.83 during trading on Tuesday, hitting $173.17. The stock had a trading volume of 697,747 shares, compared to its average volume of 2,696,810. The firm has a market cap of $97.98 billion, a PE ratio of 18.01, a P/E/G ratio of 1.81 and a beta of 1.63. The company has a 50 day simple moving average of $148.51 and a 200-day simple moving average of $126.81. Apollo Global Management, Inc. has a 12 month low of $88.58 and a 12 month high of $176.75. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.

Apollo Global Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a $0.463 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.07%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, November 18th. Apollo Global Management’s dividend payout ratio is currently 19.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Evercore ISI boosted their price target on shares of Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Citigroup increased their target price on Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group upped their price target on Apollo Global Management from $161.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Piper Sandler began coverage on Apollo Global Management in a research note on Tuesday, November 19th. They set an “overweight” rating and a $188.00 target price on the stock. Finally, Wolfe Research assumed coverage on shares of Apollo Global Management in a report on Wednesday, September 25th. They set an “outperform” rating and a $139.00 price target for the company. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.05.

Apollo Global Management Company 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.