Apollo Global Management Inc. $APO Stock: Frank Rimerman Advisors LLC Boosts Position

Frank Rimerman Advisors LLC grew its holdings in Apollo Global Management Inc. (NYSE:APO) by 832.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 38,582 shares of the financial services provider’s stock after buying an additional 34,446 shares during the period. Frank Rimerman Advisors LLC’s holdings in Apollo Global Management were worth $4,478,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of APO. MBM Wealth Consultants LLC purchased a new position in shares of Apollo Global Management during the 1st quarter worth $29,000. Steigerwald Gordon & Koch Inc. increased its position in shares of 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 worth $29,000 after purchasing an additional 213 shares during the last quarter. Continuum Advisory LLC purchased a new stake in Apollo Global Management in the 2nd quarter valued at about $30,000. Keating Financial Advisory Services Inc. purchased a new stake in Apollo Global Management in the 2nd quarter valued at about $31,000. Finally, Osbon Capital Management LLC purchased a new stake in Apollo Global Management in the 4th quarter valued at about $36,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Trading Down 0.9%

APO opened at $110.87 on Friday. Apollo Global Management Inc. has a 52 week low of $99.56 and a 52 week high of $153.29. The business has a fifty day simple moving average of $126.76 and a 200-day simple moving average of $125.12. The firm has a market cap of $65.47 billion, a P/E ratio of 40.61, a P/E/G ratio of 0.98 and a beta of 1.58. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.16 by ($0.05). The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same period in the previous year, the firm posted $1.92 earnings per share. On average, equities analysts expect 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. Investors of record on Wednesday, August 19th were issued a dividend of $0.5625 per share. This represents a $2.25 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Wednesday, August 19th. Apollo Global Management’s dividend payout ratio (DPR) is 82.42%.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 3,000 shares of Apollo Global Management stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the transaction, the chief financial officer directly owned 396,533 shares of the company’s stock, valued at $55,847,707.72. The trade was a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on APO. Jefferies Financial Group decreased their target price on shares of Apollo Global Management from $138.00 to $127.00 and set a “hold” rating on the stock in a research report on Tuesday, October 6th. Evercore lifted their price target on shares of Apollo Global Management from $145.00 to $146.00 in a research report on Thursday, October 8th. Morgan Stanley dropped their price target on shares of Apollo Global Management from $165.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, July 21st. The Goldman Sachs Group reduced their price target on shares of Apollo Global Management from $154.00 to $148.00 and set a “buy” rating on the stock in a research note on Friday, October 2nd. Finally, HSBC assumed coverage on shares of Apollo Global Management in a report on Monday, July 20th. They issued a “buy” rating and a $145.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $152.60.

Apollo Global Management Company Profile

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.