CIBC Asset Management Inc Has $16.29 Million Stock Holdings in Apollo Global Management Inc. $APO

Key Points

• CIBC Asset Management boosted its stake in Apollo Global Management by 70% in the fourth quarter, ending with 112,523 shares valued at about $16.29 million.
• Analyst sentiment remains mostly positive, with Apollo carrying a Moderate Buy consensus and an average price target of $151.23, even as several firms recently trimmed their targets.
• Insider John P. Zito sold 48,644 shares in late May, while Apollo also raised its quarterly dividend to $0.5625 per share from $0.51.

CIBC Asset Management Inc increased its holdings in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 70.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,523 shares of the financial services provider's stock after buying an additional 46,351 shares during the quarter. CIBC Asset Management Inc's holdings in Apollo Global Management were worth $16,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Atlantic Union Bankshares Corp increased its holdings in shares of Apollo Global Management by 99.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 199 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 99 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter worth approximately $29,000. Physician Wealth Advisors Inc. boosted its holdings in shares of Apollo Global Management by 57.8% during the fourth quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider's stock worth $38,000 after purchasing an additional 96 shares during the period. City Holding Co. grew its position in Apollo Global Management by 391.9% during the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 243 shares in the last quarter. Finally, Center for Financial Planning Inc. purchased a new position in Apollo Global Management during the third quarter valued at approximately $50,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Evercore reiterated an "outperform" rating on shares of Apollo Global Management in a research report on Tuesday, April 21st. JPMorgan Chase & Co. lowered their price target on shares of Apollo Global Management from $164.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, February 10th. Argus upgraded Apollo Global Management to a "strong-buy" rating in a report on Thursday, February 19th. Morgan Stanley reduced their price objective on Apollo Global Management from $181.00 to $165.00 and set an "overweight" rating for the company in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group lowered their target price on Apollo Global Management from $169.00 to $134.00 and set a "buy" rating on the stock in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Apollo Global Management presently has a consensus rating of "Moderate Buy" and an average price target of $151.23.

Insider Buying and Selling at Apollo Global Management

In other news, insider John P. Zito sold 48,644 shares of the business's stock in a transaction on 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 completion of the sale, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.30% of the company's stock.

Apollo Global Management Price Performance

Shares of NYSE:APO opened at $128.26 on Friday. The stock has a market capitalization of $73.95 billion, a P/E ratio of 81.70, a P/E/G ratio of 1.07 and a beta of 1.50. The business has a 50-day moving average of $122.44 and a two-hundred day moving average of $127.79. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $157.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating 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 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 posted $1.82 EPS. The firm's revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities research analysts predict that Apollo Global Management Inc. will post 8.28 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

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

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.

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