QRG Capital Management Inc. Boosts Holdings in Apollo Global Management, Inc. (NYSE:APO)

QRG Capital Management Inc. increased its position in Apollo Global Management, Inc. (NYSE:APO) by 14.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,824 shares of the financial services provider’s stock after purchasing an additional 3,677 shares during the quarter. QRG Capital Management Inc.’s holdings in Apollo Global Management were worth $4,761,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC boosted its position in Apollo Global Management by 15,187.7% in the 4th quarter. Proficio Capital Partners LLC now owns 639,027 shares of the financial services provider’s stock valued at $105,542,000 after buying an additional 634,847 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in Apollo Global Management by 1.8% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 157,000 shares of the financial services provider’s stock valued at $25,930,000 after purchasing an additional 2,800 shares during the last quarter. New York Life Investment Management LLC boosted its holdings in Apollo Global Management by 794.4% in the fourth quarter. New York Life Investment Management LLC now owns 65,759 shares of the financial services provider’s stock valued at $10,861,000 after purchasing an additional 58,407 shares during the last quarter. Cable Hill Partners LLC acquired a new stake in Apollo Global Management during the 4th quarter valued at approximately $220,000. Finally, Oregon Public Employees Retirement Fund purchased a new stake in Apollo Global Management during the 4th quarter worth approximately $6,331,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were 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 owns 377,164 shares in the company, valued at $59,697,517.92. This represents a 1.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Leon D. Black sold 58,200 shares of the company’s 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 directly owns 35,104,773 shares of the company’s stock, valued at approximately $6,086,114,495.01. This represents a 0.17 % 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 worth $34,977,528 in the last three months. 8.50% of the stock is owned by company insiders.

Apollo Global Management Trading Up 1.2 %

Apollo Global Management stock opened at $149.21 on Friday. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $84.42 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.17 and a beta of 1.63. The firm has a 50-day moving average price of $163.39 and a two-hundred day moving average price of $149.05.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is 25.31%.

Analysts Set New Price Targets

APO has been the subject of several research analyst reports. TD Cowen increased their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. BMO Capital Markets increased their price objective on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Barclays boosted their target price on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Piper Sandler increased their price target on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, UBS Group raised Apollo Global Management to a “hold” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $165.74.

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.