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Maryland State Retirement & Pension System Reduces Holdings in Apollo Global Management Inc. (NYSE:APO)

Apollo Global Management logo with Finance background

Key Points

  • The **Maryland State Retirement & Pension System** reduced its holdings in **Apollo Global Management Inc.** by **13.2%**, owning **24,393 shares** valued at approximately **$3.34 million** after selling **3,720 shares** during the first quarter.
  • Wall Street analysts have issued mixed ratings for Apollo, with an average price target of **$161.26**, while some firms like **Barclays** and **Wells Fargo** have raised their price targets, giving the stock a generally favorable outlook.
  • Looking to Export and Analyze Apollo Global Management Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Maryland State Retirement & Pension System lowered its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 13.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,393 shares of the financial services provider's stock after selling 3,720 shares during the period. Maryland State Retirement & Pension System's holdings in Apollo Global Management were worth $3,340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Fourth Dimension Wealth LLC acquired a new position in shares of Apollo Global Management during the 4th quarter worth approximately $25,000. GW&K Investment Management LLC raised its stake in Apollo Global Management by 84.5% in the 1st quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 87 shares during the last quarter. ORG Partners LLC grew its holdings in Apollo Global Management by 285.0% in the 1st quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock valued at $32,000 after buying an additional 171 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in Apollo Global Management in the 1st quarter valued at $39,000. Finally, Meeder Asset Management Inc. grew its holdings in Apollo Global Management by 118.6% in the 1st quarter. Meeder Asset Management Inc. now owns 317 shares of the financial services provider's stock valued at $43,000 after buying an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

APO has been the subject of a number of research analyst reports. Piper Sandler lowered their price target on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Barclays increased their price target on Apollo Global Management from $156.00 to $168.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Wells Fargo & Company raised their target price 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. Cowen reissued a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. Finally, Raymond James Financial assumed coverage on Apollo Global Management in a research report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Apollo Global Management has a consensus rating of "Moderate Buy" and an average price target of $161.26.

Read Our Latest Stock Report on APO

Insider Buying and Selling at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction on 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 transaction, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.20% of the stock is currently owned by company insiders.

Apollo Global Management Stock Down 3.1%

Apollo Global Management stock opened at $141.37 on Friday. The stock's 50 day moving average price is $141.59 and its 200 day moving average price is $141.78. The company has a market cap of $80.79 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 1.64 and a beta of 1.62. Apollo Global Management Inc. has a 1-year low of $102.14 and a 1-year high of $189.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.36.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.08. Apollo Global Management had a return on equity of 13.23% and a net margin of 13.25%. The firm had revenue of $6,550,000 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. On average, sell-side analysts predict that Apollo Global Management Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, August 18th. Apollo Global Management's payout ratio is 35.73%.

Apollo Global Management Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Apollo Global Management (NYSE:APO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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