New York State Common Retirement Fund Cuts Stake in Apollo Global Management Inc. (NYSE:APO)

New York State Common Retirement Fund reduced its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 14.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 602,336 shares of the financial services provider's stock after selling 99,900 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of Apollo Global Management worth $82,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Arizona State Retirement System grew its holdings in shares of Apollo Global Management by 1.4% in the first quarter. Arizona State Retirement System now owns 116,235 shares of the financial services provider's stock valued at $15,917,000 after purchasing an additional 1,637 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Apollo Global Management by 4.7% in the first quarter. Ballentine Partners LLC now owns 4,352 shares of the financial services provider's stock valued at $596,000 after purchasing an additional 195 shares in the last quarter. Fort Sheridan Advisors LLC grew its holdings in shares of Apollo Global Management by 37.5% in the first quarter. Fort Sheridan Advisors LLC now owns 7,088 shares of the financial services provider's stock valued at $971,000 after purchasing an additional 1,933 shares in the last quarter. Beirne Wealth Consulting Services LLC grew its holdings in shares of Apollo Global Management by 0.6% in the first quarter. Beirne Wealth Consulting Services LLC now owns 16,987 shares of the financial services provider's stock valued at $2,326,000 after purchasing an additional 109 shares in the last quarter. Finally, Xponance Inc. grew its holdings in shares of Apollo Global Management by 0.5% in the first quarter. Xponance Inc. now owns 100,434 shares of the financial services provider's stock valued at $13,753,000 after purchasing an additional 524 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total value of $530,280.00. Following the completion of the transaction, the chief financial officer directly owned 373,164 shares in the company, valued at approximately $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.50% of the company's stock.

Apollo Global Management Stock Performance

APO stock opened at $147.21 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.36 and a quick ratio of 1.36. The business has a 50-day moving average price of $137.02 and a 200 day moving average price of $143.64. The company has a market capitalization of $84.13 billion, a P/E ratio of 25.78, a PEG ratio of 1.61 and a beta of 1.59. Apollo Global Management Inc. has a 1-year low of $95.11 and a 1-year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its earnings results on Friday, May 2nd. The financial services provider reported $1.82 EPS for the quarter, missing analysts' consensus estimates of $1.84 by ($0.02). The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The business's revenue for the quarter was down 21.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.72 earnings per share. 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 announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 16th. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.39%. Apollo Global Management's payout ratio is currently 35.73%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on APO. UBS Group cut their target price on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Cowen reaffirmed a "buy" rating on shares of Apollo Global Management in a research note on Monday, May 5th. Wells Fargo & Company lifted their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday. Raymond James Financial began coverage on shares of Apollo Global Management in a research note on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 price objective for the company. Finally, Bank of America lifted their price objective on shares of Apollo Global Management from $186.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $161.00.

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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