Public Employees Retirement System of Ohio Has $24.13 Million Position in Apollo Global Management Inc. $APO

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Apollo Global Management by 21.5%, holding approximately $24.13 million in shares after selling 46,514 shares during the second quarter.
• Apollo Global Management reported earnings of $1.92 per share for the last quarter, exceeding analysts' expectations of $1.84, with revenue reaching $6.55 billion.
• The company recently paid a quarterly dividend of $0.51 per share, representing an annualized dividend of $2.04 and a yield of 1.5%.

Public Employees Retirement System of Ohio cut its holdings in Apollo Global Management Inc. (NYSE:APO - Free Report) by 21.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,095 shares of the financial services provider's stock after selling 46,514 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Apollo Global Management were worth $24,131,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GW&K Investment Management LLC boosted its holdings in Apollo Global Management by 84.5% in the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider's stock worth $26,000 after purchasing an additional 87 shares in the last quarter. ORG Partners LLC lifted its position in shares of Apollo Global Management by 285.0% in the first quarter. ORG Partners LLC now owns 231 shares of the financial services provider's stock worth $32,000 after buying an additional 171 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new stake in shares of Apollo Global Management during the 1st quarter worth about $39,000. Rise Advisors LLC acquired a new position in shares of Apollo Global Management during the 1st quarter valued at about $42,000. Finally, Meeder Asset Management Inc. raised its stake in shares of 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 acquiring an additional 172 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Stock Performance

NYSE:APO opened at $136.00 on Friday. The firm's 50-day moving average is $140.61 and its 200-day moving average is $137.13. The company has a market cap of $77.79 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 1.47 and a beta of 1.69. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.27. Apollo Global Management Inc. has a 52-week low of $102.58 and a 52-week high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last released its earnings results on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates 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 last year, the business earned $1.64 earnings per share. Equities research analysts anticipate that Apollo Global Management Inc. will post 8 earnings per share for the current year.

Apollo Global Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a dividend of $0.51 per share. The ex-dividend date was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.5%. Apollo Global Management's payout ratio is currently 38.13%.

Insider Activity

In related news, CFO Martin Kelly sold 15,500 shares of the company'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 completion of the transaction, the chief financial officer directly owned 332,399 shares in the company, valued at approximately $48,234,418.89. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Leon D. Black sold 915,000 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $134.03, for a total value of $122,637,450.00. Following the completion of the transaction, the insider directly owned 4,526,000 shares of the company's stock, valued at approximately $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 935,000 shares of company stock worth $125,543,790. Company insiders own 8.20% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup upped their target price on Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Wells Fargo & Company upped their price objective on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Barclays lifted their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Evercore ISI raised their price target on Apollo Global Management from $155.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Apollo Global Management has an average rating of "Moderate Buy" and an average target price of $166.27.

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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