Canada Pension Plan Investment Board Sells 194,145 Shares of Apollo Global Management, Inc. (NYSE:APO)

Canada Pension Plan Investment Board decreased its position in Apollo Global Management, Inc. (NYSE:APO) by 84.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,214 shares of the financial services provider’s stock after selling 194,145 shares during the period. Canada Pension Plan Investment Board’s holdings in Apollo Global Management were worth $4,158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APO. Cullen Frost Bankers Inc. acquired a new stake in shares of Apollo Global Management during the 2nd quarter worth approximately $35,000. J.Safra Asset Management Corp raised its position in shares of Apollo Global Management by 709.3% during the 1st quarter. J.Safra Asset Management Corp now owns 348 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 305 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of Apollo Global Management in the 4th quarter valued at $33,000. Riverview Trust Co bought a new position in shares of Apollo Global Management in the 1st quarter worth $45,000. Finally, Carolinas Wealth Consulting LLC acquired a new stake in shares of Apollo Global Management during the fourth quarter worth $38,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Redburn Atlantic began coverage on Apollo Global Management in a research note on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. UBS Group increased their price target on shares of Apollo Global Management from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Apollo Global Management from $134.00 to $141.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. Wolfe Research began coverage on shares of Apollo Global Management in a research note on Wednesday. They issued an “outperform” rating and a $139.00 target price for the company. Finally, Barclays reduced their price target on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.65.

Insider Transactions at Apollo Global Management

In related news, Director Pauline Richards bought 2,351 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $104.92 per share, with a total value of $246,666.92. Following the completion of the transaction, the director now owns 85,854 shares in the company, valued at $9,007,801.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

Apollo Global Management Stock Down 0.5 %

Shares of Apollo Global Management stock opened at $124.52 on Thursday. The firm has a market cap of $70.75 billion, a PE ratio of 13.79, a P/E/G ratio of 1.30 and a beta of 1.61. The business’s 50 day simple moving average is $113.78 and its 200 day simple moving average is $114.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.26 and a current ratio of 1.26. Apollo Global Management, Inc. has a 52-week low of $77.11 and a 52-week high of $126.93.

Apollo Global Management (NYSE:APO) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03). Apollo Global Management had a net margin of 21.90% and a return on equity of 16.98%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $873.18 million. During the same quarter last year, the business earned $1.54 earnings per share. On average, analysts predict that Apollo Global Management, Inc. will post 6.62 earnings per share for the current fiscal year.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.4625 per share. The ex-dividend date was Friday, August 16th. This represents a $1.85 annualized dividend and a yield of 1.49%. Apollo Global Management’s dividend payout ratio (DPR) is presently 20.49%.

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.