Cibc World Market Inc. Has $19.84 Million Holdings in Apollo Global Management Inc. $APO

Cibc World Market Inc. reduced its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 35.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,071 shares of the financial services provider’s stock after selling 74,363 shares during the quarter. Cibc World Market Inc.’s holdings in Apollo Global Management were worth $19,842,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of APO. Schnieders Capital Management LLC. acquired a new position in Apollo Global Management during the 2nd quarter valued at $7,954,000. Baird Financial Group Inc. raised its stake in Apollo Global Management by 117.5% during the 2nd quarter. Baird Financial Group Inc. now owns 16,118 shares of the financial services provider’s stock valued at $2,287,000 after purchasing an additional 8,709 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in Apollo Global Management by 4.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 6,690 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 305 shares during the last quarter. Nebula Research & Development LLC acquired a new position in Apollo Global Management during the 2nd quarter valued at $722,000. Finally, Northern Right Capital Management L.P. raised its stake in Apollo Global Management by 1.5% during the 2nd quarter. Northern Right Capital Management L.P. now owns 172,991 shares of the financial services provider’s stock valued at $24,542,000 after purchasing an additional 2,500 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Apollo Global Management Trading Down 0.3%

Shares of APO stock opened at $128.01 on Friday. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $157.28. The stock has a market cap of $73.80 billion, a price-to-earnings ratio of 81.53, a P/E/G ratio of 1.11 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a fifty day moving average of $122.81 and a 200-day moving average of $127.80.

Apollo Global Management (NYSE:APO) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, equities research analysts forecast that Apollo Global Management Inc. will post 8.28 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

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

Insider Buying and Selling at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the company’s stock in a transaction dated 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 sale, the insider owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.30% of the company’s stock.

Analysts Set New Price Targets

APO has been the subject of several research analyst reports. BMO Capital Markets cut their target price on shares of Apollo Global Management from $135.00 to $116.00 and set a “market perform” rating for the company in a research note on Tuesday, March 24th. Barclays upped their target price on shares of Apollo Global Management from $125.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. The Goldman Sachs Group cut their target price on shares of Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Evercore restated an “outperform” rating on shares of Apollo Global Management in a research note on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Apollo Global Management in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.23.

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.