iA Global Asset Management Inc. Grows Position in Apollo Global Management, Inc. (NYSE:APO)

iA Global Asset Management Inc. increased its position in shares of Apollo Global Management, Inc. (NYSE:APO) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 250,692 shares of the financial services provider’s stock after buying an additional 914 shares during the period. Apollo Global Management comprises about 0.7% of iA Global Asset Management Inc.’s portfolio, making the stock its 25th biggest position. iA Global Asset Management Inc.’s holdings in Apollo Global Management were worth $41,404,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Royal London Asset Management Ltd. increased its stake in Apollo Global Management by 1.6% in the fourth quarter. Royal London Asset Management Ltd. now owns 305,380 shares of the financial services provider’s stock valued at $50,437,000 after purchasing an additional 4,906 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Apollo Global Management in the fourth quarter valued at approximately $1,359,000. Vinva Investment Management Ltd purchased a new position in Apollo Global Management in the fourth quarter valued at approximately $307,000. Xponance Inc. increased its stake in Apollo Global Management by 32.9% in the fourth quarter. Xponance Inc. now owns 99,910 shares of the financial services provider’s stock valued at $16,501,000 after purchasing an additional 24,748 shares during the last quarter. Finally, Generali Asset Management SPA SGR purchased a new position in Apollo Global Management in the fourth quarter valued at approximately $306,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APO has been the topic of several recent analyst reports. TD Cowen increased their price target on shares of Apollo Global Management from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Morgan Stanley increased their price target on shares of Apollo Global Management from $169.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Keefe, Bruyette & Woods dropped their price target on shares of Apollo Global Management from $196.00 to $194.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on Apollo Global Management from $191.00 to $187.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Piper Sandler increased their price objective on Apollo Global Management from $188.00 to $202.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $165.74.

Apollo Global Management Price Performance

Shares of NYSE APO opened at $143.38 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a fifty day moving average price of $154.89 and a 200 day moving average price of $151.59. Apollo Global Management, Inc. has a 1-year low of $95.11 and a 1-year high of $189.49. The company has a market cap of $81.80 billion, a PE ratio of 19.61, a P/E/G ratio of 1.17 and a beta of 1.66.

Apollo Global Management Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Tuesday, February 18th were given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.29%. The ex-dividend date was Tuesday, February 18th. Apollo Global Management’s payout ratio is 25.31%.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 5,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $158.28, for a total value of $791,400.00. Following the completion of the transaction, the chief financial officer now owns 377,164 shares in the company, valued at approximately $59,697,517.92. This represents a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.50% of the stock is currently owned by company 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.