Apollo Global Management Inc. $APO Stake Increased by Retirement Systems of Alabama

Retirement Systems of Alabama grew its holdings in Apollo Global Management Inc. (NYSE:APO) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,879 shares of the financial services provider’s stock after purchasing an additional 824 shares during the period. Retirement Systems of Alabama’s holdings in Apollo Global Management were worth $13,744,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Y.D. More Investments Ltd increased its stake in shares of Apollo Global Management by 14.4% in the first quarter. Y.D. More Investments Ltd now owns 619 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 78 shares during the last quarter. Walled Lake Planning & Wealth Management LLC increased its stake in shares of Apollo Global Management by 3.3% in the first quarter. Walled Lake Planning & Wealth Management LLC now owns 2,516 shares of the financial services provider’s stock worth $345,000 after acquiring an additional 80 shares during the last quarter. GW&K Investment Management LLC increased its stake in shares of Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 87 shares during the last quarter. World Investment Advisors increased its stake in shares of Apollo Global Management by 1.3% in the first quarter. World Investment Advisors now owns 7,089 shares of the financial services provider’s stock worth $971,000 after acquiring an additional 93 shares during the last quarter. Finally, Tower Wealth Partners Inc. increased its stake in shares of Apollo Global Management by 4.7% in the second quarter. Tower Wealth Partners Inc. now owns 2,086 shares of the financial services provider’s stock worth $296,000 after acquiring an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Apollo Global Management Trading Up 0.8%

Apollo Global Management stock opened at $124.48 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market capitalization of $71.21 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.42 and a beta of 1.68. Apollo Global Management Inc. has a one year low of $102.58 and a one year high of $189.49. The company’s fifty day moving average price is $131.50 and its two-hundred day moving average price is $136.12.

Apollo Global Management (NYSE:APO) last posted its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The firm had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business posted $1.64 earnings per share. On average, analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, August 18th. Apollo Global Management’s dividend payout ratio is 38.13%.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the completion of the sale, the chief financial officer directly owned 332,399 shares in the company, valued at $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Leon D. Black sold 915,000 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the sale, the insider owned 4,526,000 shares of the company’s stock, valued at $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 935,000 shares of company stock worth $125,543,790 over the last ninety days. Company insiders own 8.20% of the company’s stock.

Wall Street Analyst Weigh In

APO has been the topic of a number of research reports. Morgan Stanley dropped their price target on shares of Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Piper Sandler reaffirmed an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. Wall Street Zen downgraded shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. BMO Capital Markets assumed coverage on shares of Apollo Global Management in a research note on Friday, October 3rd. They issued a “market perform” rating and a $132.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Apollo Global Management in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.57.

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.