CIBC Asset Management Inc Acquires 46,351 Shares of Apollo Global Management Inc. $APO

CIBC Asset Management Inc raised its holdings in shares of Apollo Global Management Inc. (NYSE:APO) by 70.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 112,523 shares of the financial services provider’s stock after buying an additional 46,351 shares during the quarter. CIBC Asset Management Inc’s holdings in Apollo Global Management were worth $16,289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of APO. Atlantic Union Bankshares Corp grew its position in Apollo Global Management by 99.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Apollo Global Management during the 4th quarter valued at about $29,000. Physician Wealth Advisors Inc. increased its stake in Apollo Global Management by 57.8% in the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 96 shares during the period. City Holding Co. increased its stake in Apollo Global Management by 391.9% in the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 243 shares during the period. Finally, Cullen Frost Bankers Inc. raised its position in Apollo Global Management by 54.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 366 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 129 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $128.26 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $73.95 billion, a P/E ratio of 81.70, a PEG ratio of 1.07 and a beta of 1.50. The business has a 50-day moving average of $122.44 and a 200-day moving average of $127.79. Apollo Global Management Inc. has a 1 year low of $99.56 and a 1 year high of $157.28.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the company posted $1.82 EPS. Apollo Global Management’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities analysts anticipate that Apollo Global Management Inc. will post 8.28 EPS for the current year.

Apollo Global Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 1.8%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, May 19th. Apollo Global Management’s dividend payout ratio (DPR) is 143.31%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on APO. Evercore reaffirmed an “outperform” rating on shares of Apollo Global Management in a report on Tuesday, April 21st. TD Cowen decreased their price target on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Barclays increased their price objective on Apollo Global Management from $125.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Piper Sandler boosted their target price on shares of Apollo Global Management from $146.00 to $157.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Apollo Global Management currently has a consensus rating of “Moderate Buy” and an average target price of $151.23.

Insider Buying and Selling at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the business’s stock in a transaction 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 completion of the transaction, the insider owned 3,063,696 shares of the company’s stock, valued at $400,302,519.36. The trade was a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.30% of the stock is currently owned by corporate insiders.

Apollo Global Management Company 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.