BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stake in Apollo Global Management, Inc. (NYSE:APO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 14.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,345 shares of the financial services provider's stock after buying an additional 9,882 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Apollo Global Management were worth $12,609,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Kestra Private Wealth Services LLC acquired a new stake in Apollo Global Management during the 4th quarter worth $3,994,000. Fortress Financial Solutions LLC purchased a new position in shares of Apollo Global Management during the fourth quarter worth about $685,000. Leavell Investment Management Inc. increased its position in shares of Apollo Global Management by 39.8% during the fourth quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider's stock worth $1,016,000 after purchasing an additional 1,750 shares in the last quarter. Amundi increased its position in shares of Apollo Global Management by 13.2% during the fourth quarter. Amundi now owns 801,260 shares of the financial services provider's stock worth $129,788,000 after purchasing an additional 93,451 shares in the last quarter. Finally, State of Michigan Retirement System purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at about $20,034,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Insider Buying and Selling

In other news, insider Lb 2018 Gst Trust purchased 607,725 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the purchase, the insider now directly owns 621,754 shares of the company's stock, valued at $69,257,178.06. The trade was a 4,331.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Leon D. Black sold 500,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the sale, the insider now owns 34,604,773 shares in the company, valued at approximately $4,913,877,766. This represents a 1.42% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods dropped their price target on Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Raymond James assumed coverage on Apollo Global Management in a report on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 price objective for the company. TD Cowen cut their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Bank of America upped their price target on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 4th. Finally, Cowen reissued a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $159.00.

Apollo Global Management Stock Performance

NYSE APO traded up $2.19 on Tuesday, hitting $133.06. 1,854,159 shares of the company's stock were exchanged, compared to its average volume of 3,945,896. The firm has a market cap of $76.04 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 1.17 and a beta of 1.67. The firm's 50-day moving average price is $132.68 and its two-hundred day moving average price is $151.81. Apollo Global Management, Inc. has a fifty-two week low of $95.11 and a fifty-two week high of $189.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. The company's revenue was down 21.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.72 EPS. On average, research analysts expect that Apollo Global Management, Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.51 dividend. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date is Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.53%. Apollo Global Management's dividend payout ratio (DPR) is 35.73%.

About Apollo Global Management

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.