Apollo Global Management, Inc. (NYSE:APO) Stock Position Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in Apollo Global Management, Inc. (NYSE:APO - Free Report) by 10.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,095 shares of the financial services provider's stock after selling 45,300 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of Apollo Global Management worth $36,260,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. FMR LLC raised its position in shares of Apollo Global Management by 18.9% during the 3rd quarter. FMR LLC now owns 9,948,454 shares of the financial services provider's stock valued at $892,973,000 after buying an additional 1,584,201 shares during the period. PointState Capital LP purchased a new stake in Apollo Global Management in the third quarter valued at approximately $98,382,000. Westfield Capital Management Co. LP purchased a new stake in Apollo Global Management in the third quarter valued at approximately $73,840,000. Keystone Investors PTE Ltd. purchased a new stake in Apollo Global Management in the third quarter valued at approximately $54,355,000. Finally, Federated Hermes Inc. raised its position in Apollo Global Management by 45.6% in the third quarter. Federated Hermes Inc. now owns 1,351,609 shares of the financial services provider's stock valued at $121,320,000 after purchasing an additional 423,538 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Apollo Global Management Stock Performance

Shares of NYSE:APO traded down $0.84 on Thursday, reaching $111.88. The company's stock had a trading volume of 1,399,119 shares, compared to its average volume of 2,333,450. The stock has a market capitalization of $63.57 billion, a P/E ratio of 13.30, a PEG ratio of 0.95 and a beta of 1.63. Apollo Global Management, Inc. has a 52-week low of $57.50 and a 52-week high of $117.15. The stock's 50-day moving average is $111.24 and its two-hundred day moving average is $99.07. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.54 and a quick ratio of 1.54.

Apollo Global Management (NYSE:APO - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.11. The firm had revenue of $795.00 million during the quarter, compared to analysts' expectations of $823.27 million. Apollo Global Management had a net margin of 15.86% and a return on equity of 20.33%. As a group, sell-side analysts forecast that Apollo Global Management, Inc. will post 7.44 EPS for the current year.

Apollo Global Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.72 annualized dividend and a yield of 1.54%. Apollo Global Management's dividend payout ratio is currently 20.45%.

Insider Buying and Selling

In related news, insider Leon D. Black sold 450,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total transaction of $49,819,500.00. Following the completion of the transaction, the insider now directly owns 42,604,773 shares of the company's stock, valued at $4,716,774,418.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Apollo Global Management news, insider Leon D. Black sold 450,000 shares of the company's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $110.71, for a total transaction of $49,819,500.00. Following the transaction, the insider now directly owns 42,604,773 shares in the company, valued at $4,716,774,418.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Martin Kelly sold 14,000 shares of the company's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $109.09, for a total transaction of $1,527,260.00. Following the transaction, the chief financial officer now owns 366,572 shares in the company, valued at $39,989,339.48. The disclosure for this sale can be found here. Insiders sold 1,426,000 shares of company stock valued at $158,226,960 over the last ninety days. Corporate insiders own 8.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APO. Wells Fargo & Company boosted their target price on Apollo Global Management from $110.00 to $118.00 and gave the company an "overweight" rating in a research report on Friday, February 9th. Barclays boosted their target price on Apollo Global Management from $122.00 to $133.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. Citigroup boosted their price target on shares of Apollo Global Management from $111.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 13th. Keefe, Bruyette & Woods boosted their price target on shares of Apollo Global Management from $122.00 to $131.00 and gave the stock an "outperform" rating in a research note on Thursday, March 7th. Finally, BMO Capital Markets boosted their price target on shares of Apollo Global Management from $111.00 to $122.00 and gave the stock an "outperform" rating in a research note on Friday, April 5th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $113.33.

Apollo Global Management Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate 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 capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.