Teachers Retirement System of The State of Kentucky Grows Holdings in Apollo Global Management Inc. (NYSE:APO)

Teachers Retirement System of The State of Kentucky grew its stake in shares of Apollo Global Management Inc. (NYSE:APO - Free Report) by 69.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 420,390 shares of the financial services provider's stock after buying an additional 172,398 shares during the quarter. Apollo Global Management accounts for 0.5% of Teachers Retirement System of The State of Kentucky's investment portfolio, making the stock its 27th biggest position. Teachers Retirement System of The State of Kentucky owned 0.07% of Apollo Global Management worth $57,569,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of Apollo Global Management by 64.6% in 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 acquiring an additional 3,695,979 shares during the period. Vanguard Group Inc. increased its position 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 acquiring an additional 3,691,700 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Apollo Global Management by 245.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,653,160 shares of the financial services provider's stock valued at $438,196,000 after acquiring an additional 1,886,146 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Apollo Global Management by 36.9% during 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 buying an additional 1,739,807 shares during the period. Finally, Northern Trust Corp raised its stake 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 buying an additional 1,460,689 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

APO has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Apollo Global Management from $160.00 to $173.00 and gave the company an "overweight" rating in a report on Friday, July 11th. UBS Group dropped their target price on shares of Apollo Global Management from $170.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Raymond James Financial started coverage on shares of Apollo Global Management in a report on Thursday, April 10th. They issued a "strong-buy" rating and a $173.00 target price on the stock. Evercore ISI raised their target price on shares of Apollo Global Management from $150.00 to $155.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Finally, Cowen reiterated a "buy" rating on shares of Apollo Global Management in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $161.00.

Insider Transactions at Apollo Global Management

In other news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $132.57, for a total value of $530,280.00. Following the sale, the chief financial officer directly owned 373,164 shares in the company, valued at $49,470,351.48. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.50% of the company's stock.

Apollo Global Management Stock Performance

NYSE APO traded up $1.89 during trading hours on Wednesday, hitting $151.54. The company had a trading volume of 953,538 shares, compared to its average volume of 3,956,596. Apollo Global Management Inc. has a 1-year low of $95.11 and a 1-year high of $189.49. The company has a market cap of $86.60 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 1.67 and a beta of 1.59. The business has a 50 day moving average of $139.16 and a 200-day moving average of $143.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.36.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.02). The firm had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $977.14 million. Apollo Global Management had a return on equity of 13.45% and a net margin of 14.59%. The company's revenue for the quarter was down 21.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.72 earnings per share. As a group, equities research analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 16th. This is a boost from Apollo Global Management's previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a yield of 1.35%. Apollo Global Management's dividend payout ratio (DPR) is 35.73%.

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.