Kentucky Retirement Systems Insurance Trust Fund Purchases Shares of 15,174 Apollo Global Management Inc. (NYSE:APO)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 15,174 shares of the financial services provider's stock, valued at approximately $2,078,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Amundi increased its stake in Apollo Global Management by 13.2% in the fourth quarter. Amundi now owns 801,260 shares of the financial services provider's stock valued at $129,788,000 after acquiring an additional 93,451 shares during the last quarter. State of Michigan Retirement System purchased a new position in shares of Apollo Global Management during the 4th quarter valued at about $20,034,000. Massachusetts Financial Services Co. MA lifted its position in Apollo Global Management by 245.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock worth $438,196,000 after buying an additional 1,886,146 shares during the last quarter. Coordinated Financial Services Inc. purchased a new stake in Apollo Global Management in the fourth quarter worth approximately $473,000. Finally, Blue Whale Capital LLP bought a new position in Apollo Global Management during the fourth quarter valued at approximately $47,400,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Activity at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $132.57, for a total value of $530,280.00. Following the transaction, the chief financial officer now owns 373,164 shares of the company's stock, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lb 2018 Gst Trust purchased 607,725 shares of the business's stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $111.39 per share, with a total value of $67,694,487.75. Following the completion of the purchase, the insider now owns 621,754 shares in the company, valued at approximately $69,257,178.06. This trade represents a 4,331.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on APO. Bank of America increased their target price on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 4th. Citigroup reduced their price target on Apollo Global Management from $191.00 to $138.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. UBS Group lowered their price objective 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. Cowen restated a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Finally, TD Cowen lowered their price target on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $159.00.

Apollo Global Management Stock Up 4.3%

Shares of NYSE APO traded up $5.76 on Tuesday, reaching $139.79. 3,187,374 shares of the company's stock traded hands, compared to its average volume of 3,956,099. The business's 50 day simple moving average is $133.72 and its two-hundred day simple moving average is $146.61. Apollo Global Management Inc. has a 12 month low of $95.11 and a 12 month high of $189.49. The company has a market cap of $79.89 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 1.38 and a beta of 1.59. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.34.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). Apollo Global Management had a net margin of 14.59% and a return on equity of 13.45%. The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $977.14 million. During the same quarter in the previous year, the firm posted $1.72 EPS. The firm's quarterly revenue was down 21.2% compared to the same quarter last year. As a group, equities research analysts forecast that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a dividend of $0.51 per share. The ex-dividend date was Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.46%. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio (DPR) is 35.73%.

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.