Apollo Global Management Inc. $APO Shares Sold by CI Investments Inc.

CI Investments Inc. lowered its position in shares of Apollo Global Management Inc. (NYSE:APOFree Report) by 16.5% in the third quarter, Holdings Channel.com reports. The fund owned 69,930 shares of the financial services provider’s stock after selling 13,839 shares during the quarter. CI Investments Inc.’s holdings in Apollo Global Management were worth $9,320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Apollo Global Management by 3.0% during the third quarter. Vanguard Group Inc. now owns 47,419,652 shares of the financial services provider’s stock worth $6,319,617,000 after purchasing an additional 1,377,545 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Apollo Global Management by 1.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,050,164 shares of the financial services provider’s stock worth $432,727,000 after purchasing an additional 36,866 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Apollo Global Management by 2.0% during the third quarter. Bank of New York Mellon Corp now owns 2,451,537 shares of the financial services provider’s stock worth $326,716,000 after buying an additional 48,053 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Apollo Global Management by 31.1% in the third quarter. Bessemer Group Inc. now owns 1,617,228 shares of the financial services provider’s stock valued at $215,530,000 after buying an additional 383,198 shares during the last quarter. Finally, Amundi raised its position in shares of Apollo Global Management by 68.9% in the second quarter. Amundi now owns 1,311,102 shares of the financial services provider’s stock valued at $187,199,000 after buying an additional 534,904 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Key Stories Impacting Apollo Global Management

Here are the key news stories impacting Apollo Global Management this week:

Apollo Global Management Trading Up 2.5%

Shares of Apollo Global Management stock opened at $109.79 on Thursday. The stock has a 50 day moving average of $132.86 and a 200 day moving average of $133.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market capitalization of $63.72 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 0.86 and a beta of 1.60. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $157.28.

Apollo Global Management (NYSE:APOGet Free Report) last announced its quarterly earnings results on Monday, February 9th. The financial services provider reported $2.47 EPS for the quarter, beating the consensus estimate of $2.04 by $0.43. Apollo Global Management had a return on equity of 15.25% and a net margin of 10.90%.The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted $2.39 EPS. As a group, research analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Thursday, February 19th were given a $0.51 dividend. The ex-dividend date of this dividend was Thursday, February 19th. This represents a $2.04 dividend on an annualized basis and a yield of 1.9%. Apollo Global Management’s dividend payout ratio is presently 36.96%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Royal Bank Of Canada began coverage on shares of Apollo Global Management in a research note on Monday, February 23rd. They set a “sector perform” rating and a $142.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on Apollo Global Management from $164.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, February 10th. UBS Group cut their price target on Apollo Global Management from $182.00 to $152.00 and set a “buy” rating for the company in a report on Friday, February 20th. Piper Sandler reissued an “overweight” rating and set a $165.00 price objective on shares of Apollo Global Management in a research note on Tuesday, February 10th. Finally, Barclays dropped their target price on Apollo Global Management from $158.00 to $131.00 and set an “overweight” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $159.47.

Get Our Latest Stock Analysis on Apollo Global Management

Apollo Global Management Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

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