New York State Teachers Retirement System Acquires 3,356 Shares of Apollo Global Management Inc. (NYSE:APO)

New York State Teachers Retirement System boosted its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 1.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 309,733 shares of the financial services provider's stock after acquiring an additional 3,356 shares during the period. New York State Teachers Retirement System owned 0.05% of Apollo Global Management worth $42,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in APO. Geode Capital Management LLC increased its holdings in shares of Apollo Global Management by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 9,413,245 shares of the financial services provider's stock valued at $1,550,316,000 after purchasing an additional 3,695,979 shares during the last quarter. Vanguard Group Inc. grew its stake in Apollo Global Management by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 45,135,384 shares of the financial services provider's stock valued at $7,454,560,000 after buying an additional 3,691,700 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings 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 valued at $438,196,000 after acquiring an additional 1,886,146 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Apollo Global Management by 36.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,452,004 shares of the financial services provider's stock valued at $1,065,615,000 after acquiring an additional 1,739,807 shares during the period. Finally, Northern Trust Corp lifted its position 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 acquiring an additional 1,460,689 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their target price on Apollo Global Management from $158.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Piper Sandler lowered their price objective on Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Cowen reissued a "buy" rating on shares of Apollo Global Management in a report on Monday, May 5th. Bank of America boosted their target price on shares of Apollo Global Management from $186.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 4th. Finally, Citigroup lowered their price target on shares of 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $159.00.

Apollo Global Management Price Performance

APO stock opened at $142.22 on Tuesday. The company's 50-day moving average price is $135.00 and its two-hundred day moving average price is $145.42. The firm has a market cap of $81.28 billion, a P/E ratio of 24.91, a P/E/G ratio of 1.48 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 Inc. has a 12 month low of $95.11 and a 12 month high of $189.49.

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

Apollo Global Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a $0.51 dividend. This is a positive change from Apollo Global Management's previous quarterly dividend of $0.46. The ex-dividend date was Friday, May 16th. This represents a $2.04 annualized dividend and a dividend yield of 1.43%. Apollo Global Management's dividend payout ratio (DPR) is presently 35.73%.

Insider Buying and Selling at Apollo Global Management

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of Apollo Global Management 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 owned 373,164 shares in the company, valued at $49,470,351.48. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lb 2018 Gst Trust bought 607,725 shares of the company's stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the acquisition, the insider directly owned 621,754 shares of the company's stock, valued at approximately $69,257,178.06. The trade was a 4,331.92% increase in their position. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company's stock.

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.

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