Frank Rimerman Advisors LLC Takes Position in Apollo Global Management, Inc. (NYSE:APO)

Frank Rimerman Advisors LLC purchased a new stake in shares of Apollo Global Management, Inc. (NYSE:APO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,854 shares of the financial services provider’s stock, valued at approximately $471,000.

Several other institutional investors and hedge funds have also recently modified their holdings of APO. Charles Schwab Investment Management Inc. increased its holdings in shares of Apollo Global Management by 60.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after acquiring an additional 1,094,464 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Apollo Global Management by 42.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock valued at $436,148,000 after acquiring an additional 782,700 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Apollo Global Management by 15,187.7% during the fourth quarter. Proficio Capital Partners LLC now owns 639,027 shares of the financial services provider’s stock valued at $105,542,000 after acquiring an additional 634,847 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Apollo Global Management by 813.6% during the fourth quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock valued at $89,646,000 after buying an additional 483,369 shares during the last quarter. Finally, Holocene Advisors LP boosted its position 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 valued at $50,242,000 after buying an additional 338,472 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley increased their price objective on Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Piper Sandler increased their price objective on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods dropped their price objective on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Barclays increased their price objective on Apollo Global Management from $174.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, TD Cowen increased their price objective on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.74.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the sale, the chief financial officer now owns 377,164 shares of the company’s stock, valued at approximately $59,697,517.92. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is owned by corporate insiders.

Apollo Global Management Stock Up 3.2 %

NYSE APO opened at $134.36 on Monday. The stock’s 50-day moving average price is $156.36 and its 200-day moving average price is $151.32. 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 52 week low of $95.11 and a 52 week high of $189.49. The company has a market capitalization of $76.65 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 25.31%.

Apollo Global Management 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.