Public Employees Retirement System of Ohio Makes New $19.16 Million Investment in Apollo Global Management Inc. $APO

Key Points

• Public Employees Retirement System of Ohio acquired 161,987 Apollo Global Management shares worth approximately $19.16 million, while institutional investors collectively own 77.06% of the company.
• Analysts have a consensus “Moderate Buy” rating with an average price target of $152.77. Apollo recently reported quarterly EPS of $2.11, slightly below the $2.16 consensus estimate, and revenue of $5.57 billion.
• Apollo declared a quarterly dividend of $0.5625 per share, equating to an annualized $2.25 dividend and a 1.7% yield; CFO Martin Kelly separately sold 3,000 shares for $422,520.

Public Employees Retirement System of Ohio bought a new stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 161,987 shares of the financial services provider's stock, valued at approximately $19,165,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Apollo Global Management by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 10,198,837 shares of the financial services provider's stock worth $1,469,793,000 after acquiring an additional 200,312 shares during the period. Northern Trust Corp increased its position in Apollo Global Management by 1.4% during the 4th quarter. Northern Trust Corp now owns 4,448,618 shares of the financial services provider's stock valued at $643,982,000 after purchasing an additional 62,831 shares during the period. Legal & General Group Plc bought a new stake in shares of Apollo Global Management in the 2nd quarter valued at about $459,987,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Apollo Global Management by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,288,100 shares of the financial services provider's stock valued at $475,985,000 after purchasing an additional 98,945 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Apollo Global Management by 106.7% in the 4th quarter. Boston Partners now owns 3,278,862 shares of the financial services provider's stock worth $474,384,000 after purchasing an additional 1,692,532 shares during the period. Institutional investors own 77.06% of the company's stock.

Insider Buying and Selling at Apollo Global Management

In other news, CFO Martin Kelly sold 3,000 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $140.84, for a total value of $422,520.00. Following the completion of the transaction, the chief financial officer owned 396,533 shares of the company's stock, valued at $55,847,707.72. The trade was a 0.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 8.30% of the company's stock.

Wall Street Analysts Forecast Growth

APO has been the subject of a number of recent research reports. Wall Street Zen raised shares of Apollo Global Management from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 18th. UBS Group lifted their price target on Apollo Global Management from $157.00 to $172.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. BMO Capital Markets reduced their price target on Apollo Global Management from $140.00 to $126.00 and set a "market perform" rating for the company in a research report on Monday, July 13th. Royal Bank Of Canada upped their price objective on Apollo Global Management from $137.00 to $146.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods upgraded Apollo Global Management to a "hold" rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $152.77.

Apollo Global Management Stock Up 1.5%

Shares of APO stock opened at $135.39 on Friday. The stock's 50-day simple moving average is $126.22 and its 200-day simple moving average is $122.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market capitalization of $79.95 billion, a PE ratio of 49.59, a P/E/G ratio of 1.22 and a beta of 1.51. Apollo Global Management Inc. has a fifty-two week low of $99.56 and a fifty-two week high of $153.29.

Apollo Global Management (NYSE:APO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.05). The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a net margin of 5.22% and a return on equity of 14.01%. During the same quarter in the previous year, the firm posted $1.92 earnings per share. Equities analysts expect that Apollo Global Management Inc. will post 8.08 earnings per share for the current year.

Apollo Global Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.5625 per share. This represents a $2.25 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, August 19th. Apollo Global Management's dividend payout ratio (DPR) is currently 82.42%.

Apollo Global Management Profile

Apollo Global Management, Inc NYSE: APO is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.

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