Charles Schwab Investment Management Inc. Grows Stock Holdings in Apollo Global Management Inc. (NYSE:APO)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Apollo Global Management by 3.9% in Q1, owning approximately 3 million shares valued at $412.6 million.
• Apollo Global Management recently announced a quarterly dividend of $0.51 per share, representing an annual yield of 1.4%.
• Several institutions, including Vanguard Group and Goldman Sachs, have also increased their holdings in Apollo Global Management, demonstrating strong institutional interest.

Charles Schwab Investment Management Inc. raised its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,013,298 shares of the financial services provider's stock after buying an additional 112,736 shares during the period. Charles Schwab Investment Management Inc. owned about 0.53% of Apollo Global Management worth $412,641,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of APO. Fourth Dimension Wealth LLC acquired a new stake in Apollo Global Management in the fourth quarter valued at $25,000. GW&K Investment Management LLC raised its stake in Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after buying an additional 87 shares in the last quarter. ORG Partners LLC raised its stake in Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after buying an additional 171 shares in the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in Apollo Global Management in the first quarter valued at $39,000. Finally, Meeder Asset Management Inc. raised its stake in Apollo Global Management by 118.6% in the first quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after buying an additional 172 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on APO shares. Piper Sandler cut their price target on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Barclays raised their price objective on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Citigroup raised their price objective on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. UBS Group lowered their price target on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Morgan Stanley lowered their price target on Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Apollo Global Management has an average rating of "Moderate Buy" and an average target price of $161.26.

Apollo Global Management Price Performance

Shares of APO stock traded up $2.51 during midday trading on Tuesday, reaching $144.63. 2,913,176 shares of the company traded hands, compared to its average volume of 3,622,797. The firm's 50 day simple moving average is $142.05 and its two-hundred day simple moving average is $141.00. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market cap of $82.66 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.48 and a beta of 1.62.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The company had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm earned $1.64 EPS. On average, equities research analysts expect that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, August 18th. Apollo Global Management's payout ratio is currently 38.13%.

Insider Activity

In other Apollo Global Management news, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the sale, the insider directly owned 83,192 shares of the company's stock, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by corporate insiders.

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.