Intact Investment Management Inc. Increases Stake in Apollo Global Management Inc. $APO

Intact Investment Management Inc. grew its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 437.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,600 shares of the financial services provider’s stock after purchasing an additional 7,000 shares during the quarter. Intact Investment Management Inc.’s holdings in Apollo Global Management were worth $1,220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fortress Financial Solutions LLC raised its holdings in Apollo Global Management by 1.6% during the 2nd quarter. Fortress Financial Solutions LLC now owns 4,561 shares of the financial services provider’s stock valued at $647,000 after buying an additional 74 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Apollo Global Management by 44.0% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 252 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 77 shares during the last quarter. Tower Wealth Partners Inc. boosted its holdings in shares of Apollo Global Management by 4.7% during the second quarter. Tower Wealth Partners Inc. now owns 2,086 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 94 shares during the period. Angeles Wealth Management LLC boosted its holdings in shares of Apollo Global Management by 2.0% during the second quarter. Angeles Wealth Management LLC now owns 4,964 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 99 shares during the period. Finally, Waterfront Wealth Inc. grew its stake in shares of Apollo Global Management by 1.4% in the second quarter. Waterfront Wealth Inc. now owns 7,428 shares of the financial services provider’s stock worth $1,054,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Insider Activity

In related news, CFO Martin Kelly sold 6,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $131.41, for a total value of $788,460.00. Following the completion of the transaction, the chief financial officer directly owned 325,604 shares in the company, valued at $42,787,621.64. This trade represents a 1.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.20% of the stock is currently owned by insiders.

Apollo Global Management Trading Up 3.3%

NYSE APO opened at $148.68 on Thursday. The firm has a market capitalization of $86.30 billion, a PE ratio of 21.74, a P/E/G ratio of 1.41 and a beta of 1.61. The stock’s 50 day moving average is $128.73 and its 200 day moving average is $135.71. Apollo Global Management Inc. has a twelve month low of $102.58 and a twelve month high of $179.48. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.33.

Apollo Global Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were given a $0.51 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. Apollo Global Management’s dividend payout ratio is currently 29.82%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on APO shares. Barclays increased their price objective on Apollo Global Management from $158.00 to $159.00 and gave the stock an “overweight” rating in a report on Tuesday, November 25th. Wall Street Zen upgraded Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Keefe, Bruyette & Woods raised their price target on Apollo Global Management from $162.00 to $173.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Evercore ISI boosted their price objective on shares of Apollo Global Management from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Finally, UBS Group set a $186.00 price objective on shares of Apollo Global Management in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Apollo Global Management presently has an average rating of “Moderate Buy” and an average target price of $165.23.

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.