BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 28,736 Shares of Apollo Global Management, Inc. (NYSE:APO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 60.6% during the 2nd quarter, Holdings Channel reports. The fund owned 76,169 shares of the financial services provider’s stock after purchasing an additional 28,736 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Apollo Global Management were worth $8,993,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWA Asset Management Group LLC raised its stake in Apollo Global Management by 2.8% during the fourth quarter. CWA Asset Management Group LLC now owns 3,399 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 94 shares in the last quarter. FineMark National Bank & Trust grew its stake in Apollo Global Management by 2.4% in the second quarter. FineMark National Bank & Trust now owns 4,117 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 98 shares in the last quarter. Orion Capital Management LLC increased its holdings in Apollo Global Management by 20.0% during the 1st quarter. Orion Capital Management LLC now owns 600 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 100 shares during the period. Lindbrook Capital LLC raised its position in Apollo Global Management by 8.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,308 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 102 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in shares of Apollo Global Management by 0.9% in the 1st quarter. Valley National Advisers Inc. now owns 11,519 shares of the financial services provider’s stock worth $1,295,000 after buying an additional 104 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Apollo Global Management Price Performance

APO stock opened at $124.52 on Thursday. Apollo Global Management, Inc. has a 1 year low of $77.11 and a 1 year high of $126.93. The firm has a market capitalization of $70.75 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.30 and a beta of 1.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. The business’s 50-day moving average is $113.78 and its two-hundred day moving average is $114.02.

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

Apollo Global Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Friday, August 16th. Apollo Global Management’s payout ratio is currently 20.49%.

Wall Street Analysts Forecast Growth

APO has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their target price on Apollo Global Management from $134.00 to $141.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Redburn Atlantic started coverage on Apollo Global Management in a research report on Tuesday, August 27th. They issued a “buy” rating and a $153.00 target price on the stock. Bank of America upgraded Apollo Global Management from a “neutral” rating to a “buy” rating and dropped their price target for the company from $124.00 to $123.00 in a research note on Tuesday, August 6th. Wolfe Research assumed coverage on Apollo Global Management in a research note on Wednesday. They issued an “outperform” rating and a $139.00 price objective for the company. Finally, StockNews.com lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. 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’s stock. According to MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and a consensus target price of $129.65.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, Director Pauline Richards bought 2,351 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $104.92 per share, with a total value of $246,666.92. Following the purchase, the director now owns 85,854 shares in the company, valued at approximately $9,007,801.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.50% of the stock is owned by insiders.

Apollo Global Management Company 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.