iA Global Asset Management Inc. Boosts Stake in Apollo Global Management Inc. (NYSE:APO)

Key Points

• iA Global Asset Management Inc. increased its stake in Apollo Global Management by 3.3%, now owning approximately $35.46 million worth of shares.
• Apollo Global Management recently reported $1.82 EPS for the quarter, missing estimates by $0.02, with revenue showing a 21.2% decline year-over-year.
• The company announced a quarterly dividend of $0.51 per share, yielding 1.4%, with a payout ratio of 35.73%.

iA Global Asset Management Inc. increased its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 3.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 258,912 shares of the financial services provider's stock after buying an additional 8,220 shares during the period. iA Global Asset Management Inc.'s holdings in Apollo Global Management were worth $35,455,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pitcairn Co. bought a new position in shares of Apollo Global Management in the fourth quarter worth approximately $250,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Apollo Global Management during the 4th quarter valued at $500,000. Peapack Gladstone Financial Corp bought a new stake in shares of Apollo Global Management during the 4th quarter worth $226,000. Cerity Partners LLC grew its position in Apollo Global Management by 2.1% in the fourth quarter. Cerity Partners LLC now owns 200,915 shares of the financial services provider's stock worth $32,839,000 after acquiring an additional 4,193 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Apollo Global Management by 35.0% during the fourth quarter. Bank of Montreal Can now owns 1,050,876 shares of the financial services provider's stock valued at $173,563,000 after purchasing an additional 272,332 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Apollo Global Management Stock Performance

Shares of Apollo Global Management stock traded up $0.59 during trading hours on Wednesday, reaching $146.13. 3,190,697 shares of the stock traded hands, compared to its average volume of 2,825,084. Apollo Global Management Inc. has a one year low of $102.14 and a one year high of $189.49. The firm has a market capitalization of $83.51 billion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 1.64 and a beta of 1.62. The company has a quick ratio of 1.36, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $141.40 and a 200 day moving average price of $141.96.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.23%. The business had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm earned $1.64 earnings per share. On average, equities research analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.04 annualized dividend and a yield of 1.4%. Apollo Global Management's payout ratio is currently 35.73%.

Analyst Ratings Changes

Several equities analysts have recently commented on APO shares. Barclays increased their price objective on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Wells Fargo & Company boosted their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Morgan Stanley reduced their target price on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Cowen reiterated a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Finally, Piper Sandler lowered their price target on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $161.26.

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.