Illinois Municipal Retirement Fund Grows Stake in Apollo Global Management Inc. $APO

Illinois Municipal Retirement Fund grew its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 74.1% during the second quarter, HoldingsChannel reports. The firm owned 36,225 shares of the financial services provider’s stock after buying an additional 15,418 shares during the period. Illinois Municipal Retirement Fund’s holdings in Apollo Global Management were worth $5,139,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GW&K Investment Management LLC grew its position in 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 valued at $26,000 after acquiring an additional 87 shares in the last quarter. Activest Wealth Management boosted its position in Apollo Global Management by 875.0% in the 2nd quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock valued at $28,000 after buying an additional 175 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Apollo Global Management by 6,900.0% during the second quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 207 shares in the last quarter. Andra AP fonden purchased a new stake in shares of Apollo Global Management during the second quarter worth about $31,000. Finally, Bay Harbor Wealth Management LLC increased its holdings in Apollo Global Management by 5,200.0% during the 2nd quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 260 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apollo Global Management

In related news, 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 value of $122,637,450.00. Following the completion of the sale, the insider owned 4,526,000 shares of the company’s stock, valued at $606,619,780. This represents a 16.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.20% of the stock is currently owned by corporate insiders.

Apollo Global Management Price Performance

NYSE APO opened at $133.66 on Thursday. The company has a 50-day moving average price of $130.80 and a two-hundred day moving average price of $136.34. The stock has a market cap of $76.46 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 1.42 and a beta of 1.63. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. Apollo Global Management Inc. has a 52 week low of $102.58 and a 52 week high of $189.49.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.24. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%.The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same period in the prior year, the company posted $1.29 EPS. The business’s revenue for the quarter was down 20.9% compared to the same quarter last year. Analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 17th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, November 17th. Apollo Global Management’s dividend payout ratio (DPR) is 29.82%.

Analysts Set New Price Targets

A number of analysts recently issued reports on APO shares. BMO Capital Markets initiated 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 for the company. Barclays upped their price objective on Apollo Global Management from $147.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Piper Sandler reiterated an “overweight” rating on shares of Apollo Global Management in a research report on Tuesday, October 7th. Citigroup reduced their price objective on Apollo Global Management from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Finally, Wall Street Zen raised shares of Apollo Global Management from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.00.

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.