CIBC Asset Management Inc Grows Stake in Apollo Global Management, Inc. (NYSE:APO)

CIBC Asset Management Inc grew its holdings in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 273.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,346 shares of the financial services provider's stock after acquiring an additional 52,252 shares during the period. CIBC Asset Management Inc's holdings in Apollo Global Management were worth $11,784,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Partners Group Holding AG raised its position in shares of Apollo Global Management by 26.5% in the third quarter. Partners Group Holding AG now owns 775,727 shares of the financial services provider's stock valued at $96,896,000 after buying an additional 162,678 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new position in Apollo Global Management during the 4th quarter valued at about $3,994,000. Swedbank AB boosted its position in Apollo Global Management by 50.9% during the 3rd quarter. Swedbank AB now owns 77,938 shares of the financial services provider's stock worth $9,735,000 after acquiring an additional 26,300 shares during the period. Fortress Financial Solutions LLC acquired a new stake in Apollo Global Management in the 4th quarter valued at about $685,000. Finally, Leavell Investment Management Inc. lifted its holdings 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 valued at $1,016,000 after purchasing an additional 1,750 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Ratings Changes

APO has been the topic of a number of recent analyst reports. StockNews.com downgraded Apollo Global Management from a "hold" rating to a "sell" rating in a research note on Tuesday, December 10th. The Goldman Sachs Group increased their price objective on shares of Apollo Global Management from $161.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Barclays boosted their target price on Apollo Global Management from $174.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Morgan Stanley increased their target price on shares of Apollo Global Management from $169.00 to $170.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 11th. Finally, BMO Capital Markets raised their target price on shares of Apollo Global Management from $157.00 to $186.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $165.74.

Apollo Global Management Stock Down 4.0 %

NYSE:APO traded down $6.34 during trading hours on Friday, hitting $150.45. The company's stock had a trading volume of 3,731,483 shares, compared to its average volume of 3,279,721. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average of $166.42 and a 200-day moving average of $147.17. The stock has a market capitalization of $85.13 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 1.24 and a beta of 1.63. Apollo Global Management, Inc. has a 52-week low of $95.11 and a 52-week high of $189.49.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.23%. The ex-dividend date is Tuesday, February 18th. Apollo Global Management's payout ratio is 25.31%.

Insider Buying and Selling

In other news, insider Leon D. Black sold 133,400 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $174.16, for a total transaction of $23,232,944.00. Following the completion of the transaction, the insider now directly owns 35,471,373 shares in the company, valued at approximately $6,177,694,321.68. This represents a 0.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Martin Kelly sold 5,000 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $172.61, for a total transaction of $863,050.00. Following the completion of the transaction, the chief financial officer now owns 320,564 shares in the company, valued at approximately $55,332,552.04. The trade was a 1.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 201,600 shares of company stock worth $34,977,528 in the last quarter. Company insiders own 8.50% of the company's stock.

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.