Apollo Global Management Inc. $APO Position Lifted by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board increased its stake in Apollo Global Management by 187.3% in Q1, now owning 91,412 shares valued at $12.5 million.
• Several institutional investors also adjusted their positions, contributing to a total 77.06% institutional ownership of Apollo's stock.
• Analysts have raised their price targets for Apollo Global Management, with recommendations ranging from "buy" to "overweight," indicating a consensus rating of "Moderate Buy."

Canada Pension Plan Investment Board grew its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 187.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,412 shares of the financial services provider's stock after acquiring an additional 59,595 shares during the period. Canada Pension Plan Investment Board's holdings in Apollo Global Management were worth $12,518,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Lodge Hill Capital LLC bought a new position in shares of Apollo Global Management during the first quarter worth about $17,144,000. OMERS ADMINISTRATION Corp grew its position in shares of Apollo Global Management by 15.8% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 28,749 shares of the financial services provider's stock worth $3,937,000 after acquiring an additional 3,932 shares in the last quarter. Callodine Capital Management LP acquired a new stake in shares of Apollo Global Management during the 1st quarter valued at approximately $10,997,000. Wealth Preservation Advisors LLC bought a new position in Apollo Global Management during the first quarter worth $140,000. Finally, B. Metzler seel. Sohn & Co. AG boosted its holdings in Apollo Global Management by 1.8% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 15,177 shares of the financial services provider's stock worth $2,078,000 after purchasing an additional 275 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.

Insider Transactions at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the transaction, the insider owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the sale, the chief financial officer directly owned 332,399 shares in the company, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their position. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on APO shares. Citigroup increased their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Wells Fargo & Company increased their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Piper Sandler decreased their target price on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Barclays upped their target price on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Apollo Global Management has a consensus rating of "Moderate Buy" and a consensus price target of $164.56.

Apollo Global Management Stock Performance

Shares of NYSE APO opened at $136.52 on Tuesday. Apollo Global Management Inc. has a 12-month low of $102.58 and a 12-month high of $189.49. The company has a market cap of $78.09 billion, a PE ratio of 25.52, a P/E/G ratio of 1.47 and a beta of 1.69. The stock has a 50 day simple moving average of $143.16 and a 200-day simple moving average of $138.10. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The firm had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the business earned $1.64 EPS. On average, equities research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 annualized dividend and a yield of 1.5%. Apollo Global Management's dividend payout ratio (DPR) is presently 38.13%.

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.

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