Apollo Global Management Inc. $APO Holdings Increased by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors LLC increased its Apollo Global Management stake by 832.8% in the third quarter, holding 38,582 shares valued at approximately $4.48 million. Institutional investors collectively own 77.06% of APO’s outstanding stock.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $152.60.
• APO shares opened at $110.87, down 0.9%, while the company’s latest quarterly results missed estimates, reporting $2.11 in EPS versus the $2.16 consensus. Apollo also pays a $0.5625 quarterly dividend, equivalent to a 2.0% annual yield.

Frank Rimerman Advisors LLC boosted its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 832.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,582 shares of the financial services provider's stock after purchasing an additional 34,446 shares during the quarter. Frank Rimerman Advisors LLC's holdings in Apollo Global Management were worth $4,478,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MBM Wealth Consultants LLC acquired a new stake in Apollo Global Management during the 1st quarter worth $29,000. Steigerwald Gordon & Koch Inc. grew its stake in Apollo Global Management by 484.1% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 257 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 213 shares in the last quarter. Continuum Advisory LLC purchased a new stake in Apollo Global Management during the 2nd quarter valued at about $30,000. Keating Financial Advisory Services Inc. acquired a new stake in Apollo Global Management in the 2nd quarter valued at about $31,000. Finally, Osbon Capital Management LLC acquired a new stake in Apollo Global Management in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

APO has been the topic of a number of research reports. Weiss Ratings raised shares of Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Wells Fargo & Company started coverage on Apollo Global Management in a research report on Friday, October 2nd. They issued an "equal weight" rating and a $127.00 price target for the company. Evercore upped their price target on Apollo Global Management from $145.00 to $146.00 in a research report on Thursday, October 8th. TD Cowen cut their price target on Apollo Global Management from $159.00 to $154.00 and set a "buy" rating for the company in a report on Monday, October 12th. Finally, Piper Sandler increased their price target on Apollo Global Management from $156.00 to $159.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $152.60.

Apollo Global Management Trading Down 0.9%

Shares of APO stock opened at $110.87 on Friday. The company's 50-day moving average price is $126.76 and its 200-day moving average price is $125.12. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.34. The stock has a market cap of $65.47 billion, a price-to-earnings ratio of 40.61, a PEG ratio of 0.98 and a beta of 1.58. Apollo Global Management Inc. has a twelve month low of $99.56 and a twelve month high of $153.29.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The firm had revenue of $5.57 billion during the quarter, compared to analysts' expectations of $5.65 billion. During the same period in the prior year, the company posted $1.92 EPS. As a group, equities analysts predict that Apollo Global Management Inc. will post 8.00 earnings per share for the current year.

Apollo Global Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, August 19th. Apollo Global Management's payout ratio is presently 82.42%.

Insiders Place Their Bets

In other news, CFO Martin Kelly sold 3,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the sale, the chief financial officer owned 396,533 shares of the company's stock, valued at $55,847,707.72. This represents a 0.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.30% of the stock is owned by insiders.

About Apollo Global Management

Apollo Global Management, Inc NYSE: APO is a global alternative asset manager that provides investment solutions to institutions, companies and individual investors. The firm manages strategies across private equity, credit, real assets, infrastructure, secondaries and other alternative investments.

Apollo invests across a range of industries and geographies, supporting companies through buyouts, growth investments, structured financing and other forms of private capital. Its credit business provides lending and fixed-income solutions, while its real assets and infrastructure strategies focus on areas such as energy, transportation, communications and other essential services.

The company was founded in 1990 by Leon Black, Josh Harris and Marc Rowan.

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