CIBC Asset Management Inc Raises Holdings in Apollo Global Management, Inc. (NYSE:APO)

CIBC Asset Management Inc raised its holdings in shares of Apollo Global Management, Inc. (NYSE:APO) by 273.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,346 shares of the financial services provider’s stock after purchasing an additional 52,252 shares during the period. CIBC Asset Management Inc’s holdings in Apollo Global Management were worth $11,784,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in Apollo Global Management by 813.6% during the 4th quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock valued at $89,646,000 after purchasing an additional 483,369 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in Apollo Global Management by 4.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 10,197 shares of the financial services provider’s stock valued at $1,684,000 after purchasing an additional 440 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Apollo Global Management by 26.1% in the 4th quarter. Allworth Financial LP now owns 919 shares of the financial services provider’s stock worth $155,000 after buying an additional 190 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of Apollo Global Management by 23.4% in the 4th quarter. Principal Securities Inc. now owns 3,834 shares of the financial services provider’s stock worth $633,000 after buying an additional 727 shares during the last quarter. Finally, BXM Wealth LLC purchased a new position in shares of Apollo Global Management in the 4th quarter worth $248,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apollo Global Management

In other news, insider Leon D. Black sold 133,400 shares of Apollo Global Management stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $174.16, for a total value of $23,232,944.00. Following the sale, the insider now directly owns 35,471,373 shares of the company’s stock, valued at approximately $6,177,694,321.68. The trade was a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of Apollo Global Management stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total value of $863,050.00. Following the completion of the sale, the chief financial officer now directly owns 320,564 shares in the company, valued at $55,332,552.04. This trade represents a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 201,600 shares of company stock valued at $34,977,528 over the last ninety days. 8.50% of the stock is currently owned by company insiders.

Apollo Global Management Price Performance

NYSE:APO opened at $161.97 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The business’s 50-day simple moving average is $167.19 and its two-hundred day simple moving average is $147.01. The stock has a market cap of $91.65 billion, a PE ratio of 22.16, a P/E/G ratio of 1.28 and a beta of 1.63. Apollo Global Management, Inc. has a 52 week low of $95.11 and a 52 week high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.4625 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.14%. Apollo Global Management’s dividend payout ratio is presently 25.31%.

Analyst Ratings Changes

APO has been the topic of a number of research reports. Morgan Stanley raised their price target on Apollo Global Management from $169.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. TD Cowen raised their price target on Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Evercore ISI raised their price target on Apollo Global Management from $150.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group raised their price target on Apollo Global Management from $161.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company dropped their price target on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $165.74.

Apollo Global Management Profile

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.