Strs Ohio Takes $33.59 Million Position in Apollo Global Management Inc. $APO

Key Points

• Strs Ohio has acquired a new stake in Apollo Global Management, purchasing 245,258 shares valued at approximately $33.59 million during the first quarter of the year.
• Recent insider trading includes Whitney Chatterjee selling 4,500 shares at an average price of $146.03, and Leon D. Black selling 915,000 shares at $134.03.
• Several analysts have raised their price targets for Apollo Global Management, with Citigroup increasing its target from $160 to $170 and maintaining a "buy" rating.

Strs Ohio purchased a new stake in Apollo Global Management Inc. (NYSE:APO - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 245,258 shares of the financial services provider's stock, valued at approximately $33,586,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of Apollo Global Management by 1.4% in 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 raised its holdings in shares of Apollo Global Management by 420.7% in the first quarter. Clearview Wealth Advisors LLC now owns 21,558 shares of the financial services provider's stock worth $2,952,000 after buying an additional 17,418 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Apollo Global Management by 209.0% in the fourth quarter. Toronto Dominion Bank now owns 162,659 shares of the financial services provider's stock worth $26,864,000 after buying an additional 110,014 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of Apollo Global Management in the first quarter worth $871,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Apollo Global Management in the first quarter worth $492,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APO has been the subject of a number of research analyst reports. Evercore ISI raised their price target on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Barclays raised their target price on shares of Apollo Global Management from $156.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Wells Fargo & Company raised their target price on shares of Apollo Global Management from $160.00 to $173.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Citigroup raised their target price on shares of Apollo Global Management from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Finally, Wall Street Zen raised shares of Apollo Global Management from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $164.56.

Insiders Place Their Bets

In other Apollo Global Management news, CFO Martin Kelly sold 15,500 shares of Apollo Global Management stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $145.11, for a total transaction of $2,249,205.00. Following the transaction, the chief financial officer directly owned 332,399 shares of the company's stock, valued at $48,234,418.89. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $146.03, for a total transaction of $657,135.00. Following the transaction, the insider directly owned 83,192 shares in the company, valued at $12,148,527.76. This trade represents a 5.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 935,000 shares of company stock valued at $125,543,790 over the last ninety days. Company insiders own 8.50% of the company's stock.

Apollo Global Management Price Performance

Shares of NYSE APO traded up $1.70 during trading on Friday, hitting $138.10. The company had a trading volume of 2,306,536 shares, compared to its average volume of 3,088,531. The stock has a fifty day simple moving average of $141.88 and a two-hundred day simple moving average of $136.92. Apollo Global Management Inc. has a fifty-two week low of $102.58 and a fifty-two week high of $189.49. The firm has a market capitalization of $79.00 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 1.49 and a beta of 1.69. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

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

Apollo Global Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.51 per share. The ex-dividend date was Monday, August 18th. This represents a $2.04 dividend on an annualized basis and a yield of 1.5%. Apollo Global Management's payout ratio is presently 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.