Pinnacle Financial Partners Inc Purchases 1,832 Shares of Apollo Global Management, Inc. (NYSE:APO)

Pinnacle Financial Partners Inc lifted its stake in Apollo Global Management, Inc. (NYSE:APO) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,313 shares of the financial services provider’s stock after buying an additional 1,832 shares during the period. Pinnacle Financial Partners Inc’s holdings in Apollo Global Management were worth $10,781,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. grew its stake in Apollo Global Management by 20.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 11,840 shares of the financial services provider’s stock valued at $1,331,000 after acquiring an additional 2,031 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Apollo Global Management by 10.7% during the 1st quarter. QRG Capital Management Inc. now owns 21,663 shares of the financial services provider’s stock worth $2,436,000 after buying an additional 2,099 shares in the last quarter. US Bancorp DE boosted its stake in shares of Apollo Global Management by 3.5% during the first quarter. US Bancorp DE now owns 8,551 shares of the financial services provider’s stock valued at $962,000 after purchasing an additional 288 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of Apollo Global Management in the 1st quarter valued at about $2,382,000. Finally, Bleakley Financial Group LLC grew its stake in Apollo Global Management by 7.9% during the first quarter. Bleakley Financial Group LLC now owns 18,565 shares of the financial services provider’s stock worth $2,088,000 after purchasing an additional 1,357 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on Apollo Global Management from $149.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Barclays increased their target price on shares of Apollo Global Management from $148.00 to $174.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. UBS Group increased their price objective on Apollo Global Management from $117.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Apollo Global Management from $159.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Citigroup upped their price objective on Apollo Global Management from $162.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus price target of $150.83.

Apollo Global Management Stock Performance

NYSE:APO opened at $163.72 on Wednesday. The stock has a market capitalization of $93.24 billion, a P/E ratio of 17.11, a PEG ratio of 1.73 and a beta of 1.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 1.44. The company has a 50 day moving average price of $134.14 and a 200 day moving average price of $121.55. Apollo Global Management, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $168.67.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a $0.463 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is presently 19.33%.

Apollo Global Management 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.