Apollo Global Management Inc. (NYSE:APO) Shares Acquired by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Apollo Global Management by 3.1%, owning 119,552 shares worth $16.37 million following the purchase of more shares.
• Insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management at an average price of $146.03, resulting in a 5.13% decrease in their position.
• Apollo Global Management recently announced a quarterly dividend of $0.51 per share, with an annualized yield of 1.4%, scheduled for payment on August 29th.

Public Sector Pension Investment Board increased its position in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 119,552 shares of the financial services provider's stock after purchasing an additional 3,552 shares during the quarter. Public Sector Pension Investment Board's holdings in Apollo Global Management were worth $16,371,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Apollo Global Management by 2.0% during the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider's stock worth $6,303,186,000 after purchasing an additional 893,428 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Apollo Global Management by 36.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock worth $1,065,615,000 after purchasing an additional 1,739,807 shares during the last quarter. Northern Trust Corp raised its holdings in Apollo Global Management by 50.0% during the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock worth $723,853,000 after purchasing an additional 1,460,689 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Apollo Global Management by 24.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider's stock worth $490,482,000 after buying an additional 706,181 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Apollo Global Management by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider's stock worth $412,641,000 after buying an additional 112,736 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Apollo Global Management Stock Down 0.9%

Shares of APO traded down $1.27 during midday trading on Friday, reaching $139.41. 3,157,630 shares of the company were exchanged, compared to its average volume of 3,140,754. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49. The stock has a 50-day moving average price of $142.86 and a 200-day moving average price of $140.63. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a market cap of $79.75 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 1.47 and a beta of 1.62.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%. The company had revenue of $6,550,000 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. Research analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a $0.51 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.04 annualized dividend and a dividend yield of 1.5%. Apollo Global Management's dividend payout ratio is presently 38.13%.

Insider Activity

In other news, CFO Martin Kelly sold 15,500 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $145.11, for a total value of $2,249,205.00. Following the completion of the sale, the chief financial officer owned 332,399 shares of the company's stock, valued at $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total value of $657,135.00. Following the completion of the sale, the insider directly owned 83,192 shares of the company's stock, valued at $12,148,527.76. The trade was a 5.13% decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Piper Sandler dropped their price target on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Wells Fargo & Company raised their price target on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Evercore ISI raised their price target on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Citigroup raised their price target on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Finally, UBS Group dropped their price target on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apollo Global Management has a consensus rating of "Moderate Buy" and a consensus price target of $161.26.

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.