State of Alaska Department of Revenue Purchases 88,922 Shares of Apollo Global Management Inc. $APO

Key Points

• State of Alaska increased its Apollo Global Management position by 196.8% in the third quarter, purchasing 88,922 shares to hold 134,113 shares worth approximately $15.6 million.
• Institutional ownership remains substantial at 77.06%, with several major investors—including Temasek, UBS Asset Management and Curated Wealth Partners—also expanding their positions.
• Apollo’s shares recently traded at $112.81, while analysts maintain a “Moderate Buy” consensus and an average price target of $152.60. The company reported quarterly EPS of $2.11, slightly below expectations, and pays a $0.5625 quarterly dividend.

State of Alaska Department of Revenue grew its position in Apollo Global Management Inc. (NYSE:APO - Free Report) by 196.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,113 shares of the financial services provider's stock after acquiring an additional 88,922 shares during the quarter. State of Alaska Department of Revenue's holdings in Apollo Global Management were worth $15,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Apollo Global Management by 4.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,657,781 shares of the financial services provider's stock worth $669,372,000 after purchasing an additional 234,517 shares during the period. Legal & General Group Plc bought a new stake in Apollo Global Management during the second quarter valued at $459,987,000. Bank of New York Mellon Corp bought a new stake in Apollo Global Management during the second quarter valued at $336,644,000. Temasek Holdings Private Ltd increased its stake in Apollo Global Management by 214.4% during the first quarter. Temasek Holdings Private Ltd now owns 2,368,162 shares of the financial services provider's stock valued at $263,861,000 after purchasing an additional 1,614,813 shares during the last quarter. Finally, Curated Wealth Partners LLC raised its holdings in shares of Apollo Global Management by 91.8% during the third quarter. Curated Wealth Partners LLC now owns 2,205,762 shares of the financial services provider's stock worth $255,887,000 after purchasing an additional 1,055,818 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Insider Activity at Apollo Global Management

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

Apollo Global Management Stock Performance

Shares of APO traded down $0.58 during midday trading on Thursday, hitting $112.81. 1,647,264 shares of the stock traded hands, compared to its average volume of 4,230,983. Apollo Global Management Inc. has a 1-year low of $99.56 and a 1-year high of $153.29. The firm has a market capitalization of $66.62 billion, a PE ratio of 41.31, a price-to-earnings-growth ratio of 1.03 and a beta of 1.58. 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 business's 50 day moving average price is $127.41 and its two-hundred day moving average price is $125.19.

Apollo Global Management (NYSE:APO - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $2.11 earnings per share for the quarter, missing analysts' consensus estimates of $2.16 by ($0.05). The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.65 billion. Apollo Global Management had a return on equity of 14.01% and a net margin of 5.22%. During the same period last year, the business earned $1.92 EPS. Equities research analysts predict that Apollo Global Management Inc. will post 8.00 EPS for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 19th were paid a $0.5625 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $2.25 annualized dividend and a dividend yield of 2.0%. Apollo Global Management's dividend payout ratio (DPR) is presently 82.42%.

Analyst Upgrades and Downgrades

APO has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Apollo Global Management from $165.00 to $164.00 and set an "overweight" rating for the company in a research report on Tuesday, July 21st. Bank of America dropped their price objective on shares of Apollo Global Management from $163.00 to $161.00 in a research note on Monday, October 5th. Keefe, Bruyette & Woods raised shares of Apollo Global Management to a "hold" rating in a report on Monday, July 20th. HSBC started coverage on Apollo Global Management in a research note on Monday, July 20th. They issued a "buy" rating and a $145.00 target price for the company. Finally, Weiss Ratings upgraded Apollo Global Management from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $152.60.

Apollo Global Management Company Profile

Apollo Global Management, Inc NYSE: APO is a global alternative asset manager that provides investment management and related services to institutional investors, companies, family offices and individual investors. The firm invests across private equity, credit and real assets, with strategies spanning corporate lending, private and public debt, infrastructure, real estate and other long-term investments.

Apollo also manages retirement and insurance-related assets through Athene, a retirement services company affiliated with Apollo.

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