Charles Schwab Investment Management Inc. Raises Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Charles Schwab Investment Management Inc. grew its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 60.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,900,562 shares of the financial services provider’s stock after acquiring an additional 1,094,464 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Apollo Global Management were worth $479,057,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC raised its position in Apollo Global Management by 11.7% during the third quarter. Chicago Partners Investment Group LLC now owns 3,322 shares of the financial services provider’s stock valued at $415,000 after purchasing an additional 349 shares during the period. Van ECK Associates Corp raised its holdings in Apollo Global Management by 10.1% during the 3rd quarter. Van ECK Associates Corp now owns 79,943 shares of the financial services provider’s stock valued at $9,986,000 after buying an additional 7,328 shares during the period. National Pension Service lifted its position in Apollo Global Management by 10.3% in the third quarter. National Pension Service now owns 566,529 shares of the financial services provider’s stock worth $70,765,000 after buying an additional 52,888 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Apollo Global Management by 1.9% during the third quarter. Asset Management One Co. Ltd. now owns 146,941 shares of the financial services provider’s stock worth $18,354,000 after buying an additional 2,773 shares during the period. Finally, QRG Capital Management Inc. increased its position in Apollo Global Management by 6.7% during the third quarter. QRG Capital Management Inc. now owns 25,147 shares of the financial services provider’s stock valued at $3,141,000 after acquiring an additional 1,585 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on APO shares. UBS Group upgraded shares of Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. Evercore ISI boosted their target price on Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Piper Sandler increased their price target on Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Wells Fargo & Company decreased their price target on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods cut 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. 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.74.

Insider Activity

In related news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Price Performance

NYSE APO opened at $137.76 on Wednesday. The company has a market cap of $78.59 billion, a PE ratio of 18.85, a P/E/G ratio of 1.17 and a beta of 1.63. The firm’s 50 day moving average price is $162.11 and its 200-day moving average price is $150.09. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49.

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.85 annualized dividend and a yield of 1.34%. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

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.