BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Stake in Apollo Global Management Inc. $APO

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in Apollo Global Management Inc. (NYSE:APO) by 0.8% during the 1st quarter, Holdings Channel reports. The fund owned 75,750 shares of the financial services provider’s stock after selling 595 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Apollo Global Management were worth $10,373,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Boston Partners bought a new position in Apollo Global Management in the 1st quarter worth $370,543,000. Nuveen LLC bought a new position in shares of Apollo Global Management in the first quarter worth about $342,335,000. Northern Trust Corp lifted its position in shares of Apollo Global Management by 50.0% during the 4th quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider’s stock valued at $723,853,000 after buying an additional 1,460,689 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Apollo Global Management by 71.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,599,936 shares of the financial services provider’s stock valued at $429,405,000 after buying an additional 1,082,825 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Apollo Global Management by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock valued at $6,303,186,000 after acquiring an additional 893,428 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apollo Global Management

In other news, CFO Martin Kelly sold 15,500 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider owned 83,192 shares in the company, valued at $12,148,527.76. This represents a 5.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $134.0750 on Monday. The company has a market cap of $76.69 billion, a P/E ratio of 25.06, a P/E/G ratio of 1.45 and a beta of 1.62. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $189.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. The firm’s fifty day moving average is $142.91 and its two-hundred day moving average is $139.14.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.84 by $0.08. The business had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. During the same quarter in the prior year, the firm earned $1.64 EPS. As a group, analysts anticipate that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. Apollo Global Management’s dividend payout ratio is presently 38.13%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APO. Barclays upped their price target on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Wall Street Zen raised shares of Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Cowen reiterated a “buy” rating on shares of Apollo Global Management in a research note on Monday, May 5th. Piper Sandler lowered their price objective on Apollo Global Management from $193.00 to $174.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Finally, Evercore ISI upped their price objective on Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.28.

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.