Cibc World Markets Corp Acquires 45,142 Shares of Apollo Global Management, Inc. (NYSE:APO)

Cibc World Markets Corp boosted its holdings in Apollo Global Management, Inc. (NYSE:APO) by 194.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 68,352 shares of the financial services provider’s stock after purchasing an additional 45,142 shares during the period. Cibc World Markets Corp’s holdings in Apollo Global Management were worth $11,289,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in APO. Charles Schwab Investment Management Inc. increased its stake in Apollo Global Management by 60.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider’s stock valued at $479,057,000 after acquiring an additional 1,094,464 shares during the period. Bank of New York Mellon Corp boosted its position in Apollo Global Management by 42.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,640,758 shares of the financial services provider’s stock valued at $436,148,000 after buying an additional 782,700 shares in the last quarter. Proficio Capital Partners LLC boosted its position in Apollo Global Management by 15,187.7% in the fourth quarter. Proficio Capital Partners LLC now owns 639,027 shares of the financial services provider’s stock valued at $105,542,000 after buying an additional 634,847 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Apollo Global Management by 813.6% during the fourth quarter. Principal Financial Group Inc. now owns 542,780 shares of the financial services provider’s stock worth $89,646,000 after purchasing an additional 483,369 shares in the last quarter. Finally, Holocene Advisors LP lifted its position in shares of Apollo Global Management by 530.9% during the third quarter. Holocene Advisors LP now owns 402,228 shares of the financial services provider’s stock worth $50,242,000 after purchasing an additional 338,472 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Insider Activity

In other news, CFO Martin Kelly sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total transaction of $791,400.00. Following the completion of the transaction, the chief financial officer now directly owns 377,164 shares in the company, valued at $59,697,517.92. This trade represents a 1.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Barclays increased their price objective on shares of Apollo Global Management from $174.00 to $200.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. StockNews.com cut shares of Apollo Global Management from a “hold” rating to a “sell” rating in a report on Tuesday, December 10th. TD Cowen raised their target price on shares of Apollo Global Management from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Piper Sandler raised their target price on shares of Apollo Global Management from $188.00 to $202.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $165.74.

Apollo Global Management Trading Up 3.4 %

Shares of APO opened at $138.90 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $155.75 and its 200-day moving average price is $151.50. The stock has a market cap of $79.24 billion, a PE ratio of 19.00, a P/E/G ratio of 1.17 and a beta of 1.66. Apollo Global Management, Inc. has a twelve month low of $95.11 and a twelve month high of $189.49.

Apollo Global Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Tuesday, February 18th. Apollo Global Management’s dividend payout ratio (DPR) is presently 25.31%.

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.