CIBC Private Wealth Group LLC Lowers Holdings in Apollo Global Management, Inc. (NYSE:APO)

CIBC Private Wealth Group LLC lowered its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,467 shares of the financial services provider’s stock after selling 542 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Apollo Global Management were worth $562,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Apollo Global Management by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider’s stock valued at $7,454,560,000 after purchasing an additional 3,691,700 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Apollo Global Management by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,717,266 shares of the financial services provider’s stock valued at $713,230,000 after buying an additional 254,268 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Apollo Global Management by 60.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after buying an additional 1,094,464 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Apollo Global Management by 42.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock worth $436,148,000 after acquiring an additional 782,700 shares during the period. Finally, TD Asset Management Inc. raised its position in Apollo Global Management by 13.6% in the fourth quarter. TD Asset Management Inc. now owns 2,473,237 shares of the financial services provider’s stock worth $408,480,000 after acquiring an additional 296,951 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

Shares of APO stock opened at $108.22 on Friday. 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 firm has a market capitalization of $61.74 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a one year low of $95.11 and a one year high of $189.49. The company has a 50 day moving average price of $148.49 and a 200 day moving average price of $153.57.

Apollo Global Management Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is currently 25.31%.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the sale, the chief financial officer now directly owns 377,164 shares in the company, valued at $59,697,517.92. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Leon D. Black sold 500,000 shares of Apollo Global Management stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total transaction of $71,000,000.00. Following the transaction, the insider now owns 34,604,773 shares in the company, valued at $4,913,877,766. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

APO has been the subject of a number of research analyst reports. Bank of America increased their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Keefe, Bruyette & Woods decreased their price target on Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Barclays lifted their price objective on Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. TD Cowen upped their target price on Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and a consensus target price of $168.26.

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.