Apollo Global Management, Inc. (NYSE:APO) Position Boosted by QRG Capital Management Inc.

QRG Capital Management Inc. increased its holdings in Apollo Global Management, Inc. (NYSE:APO) by 14.6% during the fourth quarter, Holdings Channel reports. The firm owned 28,824 shares of the financial services provider’s stock after purchasing an additional 3,677 shares during the period. QRG Capital Management Inc.’s holdings in Apollo Global Management were worth $4,761,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Byrne Asset Management LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at $37,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Apollo Global Management during the fourth quarter valued at $39,000. UMB Bank n.a. boosted its position in shares of Apollo Global Management by 447.1% in the 4th quarter. UMB Bank n.a. now owns 279 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 228 shares during the period. Versant Capital Management Inc increased its stake in Apollo Global Management by 203.6% in the 4th quarter. Versant Capital Management Inc now owns 501 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 336 shares in the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in Apollo Global Management during the 4th quarter worth about $89,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on APO shares. Keefe, Bruyette & Woods decreased their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. UBS Group raised shares of Apollo Global Management to a “hold” rating in a research note on Wednesday, November 13th. Evercore ISI boosted their target price on shares of Apollo Global Management from $150.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Citigroup raised their target price on Apollo Global Management from $162.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Barclays upped their price target 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. One equities research 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.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and an average price target of $165.74.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $149.21 on Friday. The stock has a market capitalization of $84.42 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.17 and a beta of 1.63. The business has a 50-day moving average of $163.39 and a two-hundred day moving average of $149.05. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were issued 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 1.24%. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

Insider Activity

In related news, insider Leon D. Black sold 58,200 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 35,104,773 shares in the company, valued at $6,086,114,495.01. This represents a 0.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $791,400.00. Following the completion of the transaction, the chief financial officer now directly owns 377,164 shares in the company, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 201,600 shares of company stock valued at $34,977,528 over the last 90 days. 8.50% of the stock is currently owned by company insiders.

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.