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

Key Points

• iA Global Asset Management increased its stake in Apollo Global Management by 12.4% in the fourth quarter, buying 46,624 additional shares and bringing its total holdings to 422,867 shares valued at about $61.2 million.
• Several other institutional investors also raised their Apollo positions, and overall institutional ownership stands at 77.06% of the company’s stock.
• Apollo recently reported Q1 earnings of $1.94 per share, beating estimates, and also raised its quarterly dividend to $0.5625 per share. Analysts currently have a Moderate Buy consensus with an average price target of $150.75.

iA Global Asset Management Inc. grew its stake in Apollo Global Management Inc. (NYSE:APO - Free Report) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 422,867 shares of the financial services provider's stock after purchasing an additional 46,624 shares during the quarter. iA Global Asset Management Inc. owned approximately 0.07% of Apollo Global Management worth $61,214,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Plato Investment Management Ltd increased its position in shares of Apollo Global Management by 100.3% during the third quarter. Plato Investment Management Ltd now owns 10,888 shares of the financial services provider's stock valued at $1,440,000 after acquiring an additional 5,452 shares during the last quarter. NEOS Investment Management LLC increased its position in shares of Apollo Global Management by 48.7% during the third quarter. NEOS Investment Management LLC now owns 52,506 shares of the financial services provider's stock valued at $6,997,000 after acquiring an additional 17,204 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Apollo Global Management by 11.0% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 900,554 shares of the financial services provider's stock valued at $120,017,000 after acquiring an additional 89,439 shares during the last quarter. Cornerstone Investment Partners LLC increased its position in shares of Apollo Global Management by 23.6% during the third quarter. Cornerstone Investment Partners LLC now owns 630,520 shares of the financial services provider's stock valued at $84,029,000 after acquiring an additional 120,558 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Apollo Global Management by 60.0% during the third quarter. UMB Bank n.a. now owns 109,672 shares of the financial services provider's stock valued at $14,616,000 after acquiring an additional 41,142 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on APO shares. BMO Capital Markets decreased their price target on Apollo Global Management from $135.00 to $116.00 and set a "market perform" rating for the company in a research report on Tuesday, March 24th. Royal Bank Of Canada increased their price target on Apollo Global Management from $139.00 to $146.00 and gave the company a "sector perform" rating in a research report on Thursday, May 7th. Morgan Stanley decreased their price target 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. Weiss Ratings downgraded Apollo Global Management from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. Finally, Piper Sandler decreased their price target on Apollo Global Management from $165.00 to $146.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $150.75.

Apollo Global Management Price Performance

Apollo Global Management stock opened at $135.23 on Friday. Apollo Global Management Inc. has a one year low of $99.56 and a one year high of $157.28. The business has a fifty day moving average price of $116.51 and a 200-day moving average price of $127.73. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a market capitalization of $77.96 billion, a P/E ratio of 86.13, a PEG ratio of 1.13 and a beta of 1.52.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.05. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The business's revenue for the quarter was down 8.8% on a year-over-year basis. During the same period last year, the company earned $1.82 earnings per share. As a group, equities research analysts forecast that Apollo Global Management Inc. will post 8.36 EPS for the current year.

Apollo Global Management Increases Dividend

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

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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