Maryland State Retirement & Pension System Sells 4,355 Shares of Apollo Global Management Inc. $APO

Key Points

• Maryland State Retirement & Pension System reduced its holdings in Apollo Global Management by 17.9%, selling 4,355 shares and now owning 20,038 shares valued at approximately $2.84 million.
• Multiple institutional investors have increased their positions in Apollo Global Management, with Clearview Wealth Advisors growing its stake by 420.7% during the first quarter.
• Apollo Global Management's earnings report indicated an EPS of $1.92, surpassing estimates, and it recently announced a quarterly dividend of $0.51, representing a yield of 1.7%.

Maryland State Retirement & Pension System decreased its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 17.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,038 shares of the financial services provider's stock after selling 4,355 shares during the quarter. Maryland State Retirement & Pension System's holdings in Apollo Global Management were worth $2,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of Apollo Global Management by 1.4% during the first quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock valued at $75,347,000 after buying an additional 7,441 shares during the period. Clearview Wealth Advisors LLC increased its stake in shares of Apollo Global Management by 420.7% during the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock valued at $2,952,000 after buying an additional 17,418 shares during the period. Sowell Financial Services LLC purchased a new position in shares of Apollo Global Management during the first quarter valued at approximately $871,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Apollo Global Management during the first quarter valued at approximately $492,000. Finally, True North Advisors LLC purchased a new stake in Apollo Global Management in the first quarter worth $2,097,000. Institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on APO. Citigroup upped their price target on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Apollo Global Management in a research note on Wednesday. Piper Sandler reaffirmed an "overweight" rating on shares of Apollo Global Management in a research note on Tuesday. Wells Fargo & Company upped their price target on Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, BMO Capital Markets began coverage on Apollo Global Management in a research note on Friday, October 3rd. They issued a "market perform" rating and a $132.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Apollo Global Management currently has a consensus rating of "Moderate Buy" and an average price target of $162.57.

Apollo Global Management Trading Down 4.2%

Apollo Global Management stock opened at $118.34 on Friday. 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 business's fifty day simple moving average is $136.21 and its two-hundred day simple moving average is $136.28. Apollo Global Management Inc. has a 12 month low of $102.58 and a 12 month high of $189.49. The company has a market capitalization of $67.69 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.68.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 EPS 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 business had revenue of $6,550,000 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the company posted $1.64 earnings per share. As a group, equities analysts predict that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Apollo Global Management's payout ratio is 38.13%.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction on 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 sale, the chief financial officer directly owned 332,399 shares of the company's stock, valued at approximately $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value of $657,135.00. Following the transaction, the insider directly owned 83,192 shares in the company, valued at approximately $12,148,527.76. The trade was a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 935,000 shares of company stock valued at $125,543,790. 8.20% of the stock is currently owned by corporate insiders.

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.

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