Apollo Global Management, Inc. (NYSE:APO) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of Apollo Global Management, Inc. (NYSE:APO) by 12.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,463 shares of the financial services provider’s stock after selling 9,706 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Apollo Global Management were worth $8,302,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in APO. Cetera Investment Advisers increased its position in shares of Apollo Global Management by 404.4% in the 1st quarter. Cetera Investment Advisers now owns 49,561 shares of the financial services provider’s stock valued at $5,573,000 after purchasing an additional 39,735 shares during the last quarter. Cetera Advisors LLC raised its stake in Apollo Global Management by 415.2% in the first quarter. Cetera Advisors LLC now owns 13,875 shares of the financial services provider’s stock valued at $1,560,000 after buying an additional 11,182 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Apollo Global Management by 21.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 87,538 shares of the financial services provider’s stock worth $9,820,000 after buying an additional 15,526 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Apollo Global Management by 352.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,395 shares of the financial services provider’s stock worth $283,000 after acquiring an additional 1,866 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Apollo Global Management by 293.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 464 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 346 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

NYSE APO opened at $175.03 on Monday. 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 business’s 50 day moving average is $148.51 and its two-hundred day moving average is $126.73. The stock has a market capitalization of $99.04 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.81 and a beta of 1.59. Apollo Global Management, Inc. has a 12-month low of $88.58 and a 12-month high of $176.75.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were issued a $0.463 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.85 dividend on an annualized basis and a yield of 1.06%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.46. Apollo Global Management’s dividend payout ratio (DPR) is 19.33%.

Analysts Set New Price Targets

Several research firms recently weighed in on APO. Deutsche Bank Aktiengesellschaft boosted their target price on Apollo Global Management from $141.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Bank of America raised shares of Apollo Global Management from a “neutral” rating to a “buy” rating and dropped their target price for the company from $124.00 to $123.00 in a research report on Tuesday, August 6th. Wells Fargo & Company boosted their price target on shares of Apollo Global Management from $149.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Argus dropped their price objective on Apollo Global Management from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Finally, Morgan Stanley boosted their target price on Apollo Global Management from $111.00 to $137.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.05.

About Apollo Global Management

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.