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

Public Employees Retirement System of Ohio acquired a new stake in shares of Apollo Global Management, Inc. (NYSE:APO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 223,081 shares of the financial services provider's stock, valued at approximately $36,844,000.

Several other large investors also recently bought and sold shares of APO. Kestra Private Wealth Services LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $3,994,000. Fortress Financial Solutions LLC purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $685,000. Leavell Investment Management Inc. grew its stake in shares of Apollo Global Management by 39.8% in the 4th quarter. Leavell Investment Management Inc. now owns 6,150 shares of the financial services provider's stock valued at $1,016,000 after buying an additional 1,750 shares during the period. Amundi grew its stake in shares of Apollo Global Management by 13.2% in the 4th quarter. Amundi now owns 801,260 shares of the financial services provider's stock valued at $129,788,000 after buying an additional 93,451 shares during the period. Finally, State of Michigan Retirement System purchased a new stake in shares of Apollo Global Management in the 4th quarter valued at approximately $20,034,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Insider Activity

In other news, insider Leon D. Black sold 500,000 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $142.00, for a total value of $71,000,000.00. Following the completion of the transaction, the insider now owns 34,604,773 shares of the company's stock, valued at $4,913,877,766. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lb 2018 Gst Trust acquired 607,725 shares of the business's stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $111.39 per share, with a total value of $67,694,487.75. Following the transaction, the insider now owns 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APO. Barclays increased their price objective on shares of Apollo Global Management from $145.00 to $156.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. TD Cowen reduced their target price on shares of Apollo Global Management from $214.00 to $144.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley reduced their price objective on shares of Apollo Global Management from $170.00 to $131.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Piper Sandler reduced their price objective on shares of Apollo Global Management from $193.00 to $174.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Bank of America increased 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $159.00.

Apollo Global Management Price Performance

APO traded up $2.21 during midday trading on Tuesday, reaching $133.08. 2,474,108 shares of the company's stock were exchanged, compared to its average volume of 3,946,013. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $76.05 billion, a PE ratio of 18.21, a P/E/G ratio of 1.17 and a beta of 1.67. The business's 50-day moving average price is $132.68 and its 200 day moving average price is $151.81. 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 earnings per share (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%. The business's revenue was down 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 EPS. As a group, equities analysts anticipate that Apollo Global Management, Inc. will post 8 EPS for the current fiscal year.

Apollo Global Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.04 dividend on an annualized basis and a yield of 1.53%. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. Apollo Global Management's payout ratio is presently 35.73%.

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.