Public Employees Retirement System of Ohio Makes New $36.84 Million Investment in Apollo Global Management, Inc. (NYSE:APO)

Public Employees Retirement System of Ohio acquired a new position in Apollo Global Management, Inc. (NYSE:APO - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 223,081 shares of the financial services provider's stock, valued at approximately $36,844,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Apollo Global Management by 8.9% in the fourth 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 period. Geode Capital Management LLC increased its position in shares of Apollo Global Management by 64.6% during 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 period. Price T Rowe Associates Inc. MD raised its stake in shares of Apollo Global Management by 36.9% in the fourth 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 purchasing an additional 1,739,807 shares in the last quarter. Northern Trust Corp lifted its position in Apollo Global Management by 50.0% in the fourth quarter. Northern Trust Corp now owns 4,382,740 shares of the financial services provider's stock worth $723,853,000 after purchasing an additional 1,460,689 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Apollo Global Management by 60.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,900,562 shares of the financial services provider's stock worth $479,057,000 after buying an additional 1,094,464 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Apollo Global Management Trading Up 0.3%

Shares of NYSE:APO traded up $0.38 during trading on Thursday, hitting $131.89. 503,374 shares of the company's stock were exchanged, compared to its average volume of 3,931,679. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm has a market cap of $75.37 billion, a P/E ratio of 18.01, a PEG ratio of 1.17 and a beta of 1.67. The firm has a 50-day moving average price of $132.20 and a two-hundred day moving average price of $151.54. 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 released 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 business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $977.14 million. Apollo Global Management had a return on equity of 13.97% and a net margin of 17.53%. Apollo Global Management's revenue was down 21.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.72 EPS. Equities analysts predict that Apollo Global Management, Inc. will post 8 earnings per share for the current year.

Apollo Global Management Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Friday, May 16th. This is an increase from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's dividend payout ratio is currently 35.73%.

Insiders Place Their Bets

In other news, insider Lb 2018 Gst Trust acquired 607,725 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $111.39 per share, for a total transaction of $67,694,487.75. Following the transaction, the insider now directly owns 621,754 shares in the company, valued at approximately $69,257,178.06. This represents a 4,331.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, 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 now owns 373,164 shares in the company, valued at approximately $49,470,351.48. This represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on APO shares. Citigroup decreased their target price 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. Raymond James assumed coverage on Apollo Global Management in a research report on Thursday, April 10th. They set a "strong-buy" rating and a $173.00 target price for the company. Barclays boosted their price target on Apollo Global Management from $145.00 to $156.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Bank of America boosted their price target 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, Keefe, Bruyette & Woods cut their target price on shares of Apollo Global Management from $196.00 to $194.00 and set an "outperform" rating for the company in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Apollo Global Management has an average rating of "Moderate Buy" and an average target price of $159.00.

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.