California State Teachers Retirement System lowered its position in shares of Apollo Global Management Inc. (NYSE:APO – Free Report) by 2.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 643,713 shares of the financial services provider’s stock after selling 14,897 shares during the period. California State Teachers Retirement System owned about 0.11% of Apollo Global Management worth $71,723,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Legal & General Group Plc grew its stake in shares of Apollo Global Management by 4.5% during the 4th quarter. Legal & General Group Plc now owns 3,611,839 shares of the financial services provider’s stock worth $522,850,000 after purchasing an additional 155,857 shares during the period. Sandro Wealth Management LLC purchased a new position in shares of Apollo Global Management during the fourth quarter worth $1,599,000. Asset Management One Co. Ltd. increased its position in shares of Apollo Global Management by 6.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 189,744 shares of the financial services provider’s stock worth $27,936,000 after acquiring an additional 10,876 shares during the period. Vanguard Group Inc. grew its holdings in Apollo Global Management by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 47,760,608 shares of the financial services provider’s stock worth $6,913,826,000 after acquiring an additional 340,956 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Apollo Global Management by 16.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 98,916 shares of the financial services provider’s stock worth $14,319,000 after acquiring an additional 13,625 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on APO shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Apollo Global Management in a research report on Thursday, May 7th. Keefe, Bruyette & Woods raised Apollo Global Management to a “hold” rating in a research note on Monday, July 20th. Piper Sandler decreased their price objective on shares of Apollo Global Management from $157.00 to $156.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Barclays boosted their price objective on shares of Apollo Global Management from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada reduced their price objective on Apollo Global Management from $146.00 to $137.00 and set a “sector perform” rating on the stock in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.08.
Insider Transactions at Apollo Global Management
In other Apollo Global Management news, insider John P. Zito sold 48,644 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the transaction, the insider directly owned 3,063,696 shares in the company, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.30% of the company’s stock.
Apollo Global Management Price Performance
APO stock opened at $120.41 on Friday. Apollo Global Management Inc. has a 52-week low of $99.56 and a 52-week high of $153.29. The firm has a market capitalization of $69.42 billion, a price-to-earnings ratio of 76.70, a PEG ratio of 1.04 and a beta of 1.50. The firm has a 50 day moving average price of $125.39 and a 200-day moving average price of $123.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73.
Apollo Global Management (NYSE:APO – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.89 by $0.05. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.19 billion. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The company’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.82 earnings per share. Equities research analysts forecast that Apollo Global Management Inc. will post 8.19 EPS for the current fiscal year.
Apollo Global Management Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were issued a $0.5625 dividend. This represents a $2.25 dividend on an annualized basis and a yield of 1.9%. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, May 19th. Apollo Global Management’s dividend payout ratio is 143.31%.
Apollo Global Management Company Profile
Apollo Global Management, Inc (NYSE: APO) is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.
Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.
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