State of New Jersey Common Pension Fund D Has $18.21 Million Stock Holdings in Apollo Global Management Inc. (NYSE:APO)

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Apollo Global Management by 10.1%, holding 132,976 shares valued at $18.21 million after selling 14,950 shares in the first quarter.
• Various institutional investors increased their positions in Apollo Global Management, including Principal Financial Group, which raised its holdings by 1.4% to own 550,221 shares worth $75.35 million.
• Apollo Global Management announced a quarterly dividend of $0.51 per share, with a payment date set for August 29th, representing an annual yield of 1.5%.

State of New Jersey Common Pension Fund D decreased its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 10.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,976 shares of the financial services provider's stock after selling 14,950 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Apollo Global Management were worth $18,210,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in APO. Principal Financial Group Inc. increased its holdings in Apollo Global Management by 1.4% during the first quarter. Principal Financial Group Inc. now owns 550,221 shares of the financial services provider's stock worth $75,347,000 after buying an additional 7,441 shares during the last quarter. Clearview Wealth Advisors LLC grew its position in shares of Apollo Global Management by 420.7% in the 1st quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock valued at $2,952,000 after acquiring an additional 17,418 shares during the period. Toronto Dominion Bank increased its stake in shares of Apollo Global Management by 209.0% during the 4th quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock worth $26,864,000 after purchasing an additional 110,014 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of Apollo Global Management during the 1st quarter worth about $871,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Apollo Global Management in the 1st quarter valued at about $492,000. Institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on APO. Barclays lifted their price target on Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Evercore ISI lifted their target price on Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. UBS Group dropped their price target on Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen raised Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Piper Sandler decreased 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. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $161.26.

Insider Activity

In other news, CFO Martin Kelly sold 15,500 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were 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. The trade was a 4.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Whitney Chatterjee sold 4,500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the sale, the insider directly owned 83,192 shares of the company's stock, valued at approximately $12,148,527.76. This trade represents a 5.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company's stock.

Apollo Global Management Stock Down 0.9%

NYSE APO opened at $139.41 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. The company has a market cap of $79.75 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.47 and a beta of 1.62. The company has a 50 day moving average of $142.86 and a 200-day moving average of $140.63. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.08. The firm had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. Apollo Global Management had a return on equity of 13.38% and a net margin of 13.25%. During the same quarter last year, the company earned $1.64 EPS. On average, equities research analysts expect that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Dividend Announcement

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

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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