iA Global Asset Management Inc. Buys 46,624 Shares of Apollo Global Management Inc. $APO

iA Global Asset Management Inc. grew its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 12.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 422,867 shares of the financial services provider’s stock after acquiring an additional 46,624 shares during the period. iA Global Asset Management Inc.’s holdings in Apollo Global Management were worth $61,214,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of APO. Chesapeake Asset Management LLC increased its holdings in Apollo Global Management by 3.6% during the 4th quarter. Chesapeake Asset Management LLC now owns 2,065 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 72 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in Apollo Global Management by 1.4% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 5,553 shares of the financial services provider’s stock valued at $740,000 after purchasing an additional 78 shares during the period. Mitchell & Pahl Private Wealth LLC increased its holdings in Apollo Global Management by 0.8% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 9,553 shares of the financial services provider’s stock valued at $1,383,000 after purchasing an additional 80 shares during the period. Sunbelt Securities Inc. increased its holdings in Apollo Global Management by 16.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 566 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 82 shares during the period. Finally, United Advisor Group LLC increased its holdings in Apollo Global Management by 4.7% during the 4th quarter. United Advisor Group LLC now owns 1,948 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 87 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Stock Down 0.2%

APO stock opened at $135.23 on Friday. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $157.28. The business’s 50 day moving average price is $116.51 and its two-hundred day moving average price is $127.73. 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 company has a market capitalization of $77.96 billion, a price-to-earnings ratio of 86.13, a price-to-earnings-growth ratio of 1.13 and a beta of 1.52.

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 analysts’ consensus estimates of $1.89 by $0.05. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the business earned $1.82 EPS. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, analysts forecast that Apollo Global Management Inc. will post 8.36 earnings per share for the current fiscal year.

Apollo Global Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Tuesday, May 19th will be paid a $0.5625 dividend. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, May 19th. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.51. Apollo Global Management’s dividend payout ratio (DPR) is currently 129.94%.

Analyst Ratings Changes

APO has been the topic of a number of research analyst reports. Wall Street Zen downgraded Apollo Global Management from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings downgraded Apollo Global Management from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. UBS Group upped their target price on Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Royal Bank Of Canada upped their target price on Apollo Global Management from $139.00 to $146.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group reduced their target price on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $150.75.

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.