Cibc World Market Inc. Makes New $15.16 Million Investment in Apollo Global Management Inc. $APO

Cibc World Market Inc. acquired a new position in shares of Apollo Global Management Inc. (NYSE:APO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 128,126 shares of the financial services provider’s stock, valued at approximately $15,159,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Apollo Global Management by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock valued at $6,913,826,000 after acquiring an additional 340,956 shares during the last quarter. Geode Capital Management LLC boosted its stake in Apollo Global Management by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider’s stock valued at $1,469,793,000 after acquiring an additional 200,312 shares during the last quarter. Northern Trust Corp boosted its stake in Apollo Global Management by 1.4% in the fourth quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider’s stock valued at $643,982,000 after acquiring an additional 62,831 shares during the last quarter. Legal & General Group Plc grew its position in shares of Apollo Global Management by 4.5% during the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock valued at $522,850,000 after acquiring an additional 155,857 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Apollo Global Management by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider’s stock worth $475,985,000 after purchasing an additional 98,945 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Insider Buying and Selling at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the transaction, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Martin Kelly sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $140.84, for a total transaction of $422,520.00. Following the completion of the sale, the chief financial officer directly owned 396,533 shares in the company, valued at $55,847,707.72. This represents a 0.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 8.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen raised Apollo Global Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 18th. TD Cowen reissued a “buy” rating on shares of Apollo Global Management in a report on Thursday, August 6th. UBS Group upped their price objective on shares of Apollo Global Management from $157.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Keefe, Bruyette & Woods upgraded shares of Apollo Global Management to a “hold” rating in a research report on Monday, July 20th. Finally, BMO Capital Markets lowered their price target on shares of Apollo Global Management from $140.00 to $126.00 and set a “market perform” rating on the stock in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $152.77.

Apollo Global Management Stock Performance

Shares of APO opened at $132.72 on Tuesday. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. The stock’s 50-day simple moving average is $126.57 and its 200 day simple moving average is $122.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market capitalization of $78.38 billion, a price-to-earnings ratio of 48.62, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51.

Apollo Global Management (NYSE:APO) last posted its earnings results 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). Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the firm earned $1.92 EPS. Research analysts forecast that Apollo Global Management Inc. will post 8.08 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th will be issued a $0.5625 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. Apollo Global Management’s dividend payout ratio is presently 82.42%.

Apollo Global Management Profile

Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.