Charles Schwab Investment Management Inc. Purchases 29,730 Shares of Apollo Global Management, Inc. (NYSE:APO)

Charles Schwab Investment Management Inc. grew its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,307,949 shares of the financial services provider’s stock after purchasing an additional 29,730 shares during the period. Charles Schwab Investment Management Inc. owned about 0.23% of Apollo Global Management worth $100,464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of APO. US Bancorp DE lifted its stake in shares of Apollo Global Management by 174.5% in the 1st quarter. US Bancorp DE now owns 6,275 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 3,989 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of Apollo Global Management in the 1st quarter valued at about $1,112,000. Panagora Asset Management Inc. bought a new stake in shares of Apollo Global Management in the 1st quarter valued at about $202,000. APG Asset Management N.V. bought a new stake in shares of Apollo Global Management in the 1st quarter valued at about $457,000. Finally, Yousif Capital Management LLC bought a new stake in shares of Apollo Global Management in the 1st quarter valued at about $511,000. Institutional investors own 60.86% of the company’s stock.

Analyst Ratings Changes

APO has been the subject of a number of recent research reports. Citigroup boosted their target price on Apollo Global Management from $91.00 to $100.00 in a research note on Friday, August 4th. Barclays reduced their price target on Apollo Global Management from $109.00 to $106.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. The Goldman Sachs Group boosted their price target on Apollo Global Management from $86.00 to $98.00 and gave the company a “buy” rating in a report on Friday, August 4th. Oppenheimer downgraded Apollo Global Management from an “outperform” rating to a “market perform” rating in a report on Monday, October 9th. They noted that the move was a valuation call. Finally, BMO Capital Markets reduced their price target on Apollo Global Management from $103.00 to $98.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.82.

Apollo Global Management Stock Performance

APO stock opened at $88.32 on Tuesday. The stock has a market capitalization of $50.12 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 0.66 and a beta of 1.64. Apollo Global Management, Inc. has a 12-month low of $55.16 and a 12-month high of $93.18. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.85. The stock’s 50 day simple moving average is $87.04 and its 200 day simple moving average is $80.15.

Apollo Global Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 17th will be given a $0.43 dividend. The ex-dividend date is Thursday, November 16th. This represents a $1.72 annualized dividend and a yield of 1.95%. Apollo Global Management’s dividend payout ratio (DPR) is presently 36.36%.

Insider Activity at Apollo Global Management

In related news, insider James C. Zelter sold 87,500 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $86.16, for a total value of $7,539,000.00. Following the transaction, the insider now directly owns 5,094,585 shares of the company’s stock, valued at approximately $438,949,443.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Martin Kelly sold 20,000 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $86.08, for a total transaction of $1,721,600.00. Following the transaction, the chief financial officer now directly owns 372,961 shares of the company’s stock, valued at approximately $32,104,482.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James C. Zelter sold 87,500 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $86.16, for a total value of $7,539,000.00. Following the transaction, the insider now directly owns 5,094,585 shares in the company, valued at $438,949,443.60. The disclosure for this sale can be found here. 8.70% of the stock is currently owned by insiders.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.