RNC Capital Management LLC Invests $264,000 in Apollo Global Management, Inc. (NYSE:APO)

RNC Capital Management LLC bought a new position in shares of Apollo Global Management, Inc. (NYSE:APO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,600 shares of the financial services provider’s stock, valued at approximately $264,000.

A number of other large investors also recently made changes to their positions in APO. Charles Schwab Investment Management Inc. increased its stake in shares of Apollo Global Management by 27.0% during the third 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 period. International Assets Investment Management LLC increased its stake in shares of Apollo Global Management by 12,086.7% during the third 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 period. Holocene Advisors LP increased its stake in shares of Apollo Global Management by 530.9% during the third 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 period. Geode Capital Management LLC increased its stake 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 acquiring an additional 254,268 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake 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 acquiring an additional 233,670 shares during the period. Institutional investors own 77.06% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the transaction, the chief financial officer now directly owns 320,564 shares of the company’s stock, valued at approximately $55,332,552.04. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $10,090,134.00. Following the completion of the transaction, the insider now directly owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. This trade represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 196,600 shares of company stock valued at $34,186,128. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Trading Down 0.9 %

NYSE APO opened at $163.39 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49. The company has a market cap of $92.45 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.37 and a beta of 1.63. The business’s fifty day moving average is $169.13 and its 200 day moving average is $144.66.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.13%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management’s payout ratio is presently 19.33%.

Analyst Ratings Changes

APO has been the topic of a number of recent research reports. Citigroup raised their price objective on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Evercore ISI raised their price objective on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. StockNews.com lowered Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft raised their price objective on Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods lowered their price objective on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $164.00.

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.