Public Employees Retirement Association of Colorado increased its stake in shares of Apollo Global Management Inc. (NYSE:APO – Free Report) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,020 shares of the financial services provider’s stock after acquiring an additional 4,700 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Apollo Global Management were worth $8,254,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in Apollo Global Management in the 4th quarter valued at $29,000. Physician Wealth Advisors Inc. boosted its holdings in shares of Apollo Global Management by 57.8% during the 4th quarter. Physician Wealth Advisors Inc. now owns 262 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 96 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new position in shares of Apollo Global Management during the 4th quarter valued at about $42,000. City Holding Co. grew its position in shares of Apollo Global Management by 391.9% during the fourth quarter. City Holding Co. now owns 305 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 243 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in shares of Apollo Global Management by 54.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 366 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 129 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the company. UBS Group boosted their target price on Apollo Global Management from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Piper Sandler raised their price target on Apollo Global Management from $146.00 to $157.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. TD Cowen reduced their price objective on Apollo Global Management from $155.00 to $146.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Royal Bank Of Canada upped their price objective on Apollo Global Management from $139.00 to $146.00 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group lowered their target price on Apollo Global Management from $169.00 to $134.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Apollo Global Management currently has an average rating of “Moderate Buy” and an average price target of $151.23.
Insider Activity
In related news, insider John P. Zito sold 48,644 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $130.66, for a total transaction of $6,355,825.04. Following the completion of the sale, the insider directly owned 3,063,696 shares of the company’s stock, valued at approximately $400,302,519.36. This trade represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.30% of the company’s stock.
Apollo Global Management Stock Performance
Shares of NYSE:APO opened at $136.31 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.45. Apollo Global Management Inc. has a 12 month low of $99.56 and a 12 month high of $157.28. The company has a market capitalization of $78.58 billion, a price-to-earnings ratio of 86.82, a PEG ratio of 1.15 and a beta of 1.50. The firm’s 50-day moving average is $125.60 and its 200 day moving average is $128.01.
Apollo Global Management (NYSE:APO – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.05. Apollo Global Management had a net margin of 3.62% and a return on equity of 14.43%. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. Research analysts predict that Apollo Global Management Inc. will post 8.28 EPS for the current year.
Apollo Global Management Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a $0.5625 dividend. The ex-dividend date was Tuesday, May 19th. This is a positive change from Apollo Global Management’s previous quarterly dividend of $0.51. This represents a $2.25 annualized dividend and a dividend yield of 1.7%. Apollo Global Management’s dividend payout ratio (DPR) is currently 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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