Summit Trail Advisors LLC Has $20.41 Million Stock Position in Apollo Global Management, Inc. (NYSE:APO)

Summit Trail Advisors LLC lifted its stake in Apollo Global Management, Inc. (NYSE:APO) by 0.3% during the 3rd quarter, Holdings Channel reports. The firm owned 163,417 shares of the financial services provider’s stock after acquiring an additional 487 shares during the period. Apollo Global Management makes up 0.5% of Summit Trail Advisors LLC’s holdings, making the stock its 27th biggest holding. Summit Trail Advisors LLC’s holdings in Apollo Global Management were worth $20,412,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Cullen Frost Bankers Inc. bought a new position in Apollo Global Management during the second quarter worth about $35,000. Compagnie Lombard Odier SCmA bought a new position in Apollo Global Management during the 3rd quarter worth approximately $35,000. Massmutual Trust Co. FSB ADV grew its holdings in Apollo Global Management by 293.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 346 shares during the period. Prospera Private Wealth LLC bought a new stake in Apollo Global Management in the third quarter valued at approximately $80,000. Finally, Mather Group LLC. raised its holdings in Apollo Global Management by 826.9% in the second quarter. Mather Group LLC. now owns 723 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 645 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Bank of America upgraded shares of Apollo Global Management from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $124.00 to $123.00 in a research report on Tuesday, August 6th. Evercore ISI increased their price target on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Redburn Partners initiated coverage on Apollo Global Management in a report on Tuesday, August 27th. They set a “buy” rating and a $153.00 price objective on the stock. Wolfe Research began coverage on Apollo Global Management in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $139.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.05.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $167.56 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The business has a 50-day moving average of $143.02 and a 200-day moving average of $124.53. The stock has a market capitalization of $94.81 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.70 and a beta of 1.59. Apollo Global Management, Inc. has a fifty-two week low of $88.58 and a fifty-two week high of $169.58.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be paid a $0.463 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.11%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, November 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 19.33%.

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.