Retirement Systems of Alabama Buys 824 Shares of Apollo Global Management Inc. $APO

Retirement Systems of Alabama lifted its stake in Apollo Global Management Inc. (NYSE:APO) by 0.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 96,879 shares of the financial services provider’s stock after acquiring an additional 824 shares during the period. Retirement Systems of Alabama’s holdings in Apollo Global Management were worth $13,744,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Apollo Global Management by 2.0% in the first quarter. Vanguard Group Inc. now owns 46,028,812 shares of the financial services provider’s stock valued at $6,303,186,000 after buying an additional 893,428 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Apollo Global Management by 24.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,581,732 shares of the financial services provider’s stock valued at $490,482,000 after buying an additional 706,181 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Apollo Global Management by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,013,298 shares of the financial services provider’s stock valued at $412,641,000 after buying an additional 112,736 shares during the period. Boston Partners bought a new stake in shares of Apollo Global Management in the first quarter valued at about $370,543,000. Finally, Allen Investment Management LLC lifted its stake in shares of Apollo Global Management by 14.4% in the first quarter. Allen Investment Management LLC now owns 2,641,043 shares of the financial services provider’s stock valued at $361,664,000 after buying an additional 333,428 shares during the period. Institutional investors own 77.06% of the company’s stock.

Apollo Global Management Stock Performance

NYSE APO opened at $124.48 on Friday. The firm has a market cap of $71.21 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.42 and a beta of 1.68. The company has a 50 day moving average of $131.50 and a 200-day moving average of $136.12. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.37. 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) last posted its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.08. The company had revenue of $6,550,000 billion during 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 posted $1.64 earnings per share. On average, equities analysts forecast that Apollo Global Management Inc. will post 8 earnings per share for the current fiscal year.

Apollo Global Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.04 annualized dividend and a dividend yield of 1.6%. Apollo Global Management’s dividend payout ratio (DPR) is presently 38.13%.

Insider Activity at Apollo Global Management

In related news, CFO Martin Kelly sold 15,500 shares of the firm’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 sale, the chief financial officer owned 332,399 shares of the company’s stock, valued at $48,234,418.89. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Whitney Chatterjee sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total transaction of $657,135.00. Following the completion of the sale, the insider directly owned 83,192 shares of the company’s stock, valued at approximately $12,148,527.76. This represents a 5.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 935,000 shares of company stock valued at $125,543,790 over the last quarter. Corporate insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on APO shares. Morgan Stanley cut their price target on shares of Apollo Global Management from $154.00 to $151.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Apollo Global Management in a research note on Wednesday, October 8th. Citigroup cut their price target on shares of Apollo Global Management from $170.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Barclays cut their price target on shares of Apollo Global Management from $168.00 to $147.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. Finally, Piper Sandler restated an “overweight” rating on shares of Apollo Global Management in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.57.

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.