Apollo Global Management Inc. $APO Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System grew its stake in shares of Apollo Global Management Inc. (NYSE:APO) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,800 shares of the financial services provider’s stock after purchasing an additional 1,500 shares during the quarter. State of Michigan Retirement System’s holdings in Apollo Global Management were worth $17,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APO. GW&K Investment Management LLC raised its holdings in Apollo Global Management by 84.5% during the first quarter. GW&K Investment Management LLC now owns 190 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares in the last quarter. Activest Wealth Management raised its holdings in Apollo Global Management by 875.0% during the second quarter. Activest Wealth Management now owns 195 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 175 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in Apollo Global Management by 6,900.0% during the second quarter. Rosenberg Matthew Hamilton now owns 210 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 207 shares in the last quarter. Bay Harbor Wealth Management LLC raised its holdings in Apollo Global Management by 5,200.0% during the second quarter. Bay Harbor Wealth Management LLC now owns 265 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 260 shares in the last quarter. Finally, Rise Advisors LLC acquired a new stake in Apollo Global Management during the first quarter worth approximately $42,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on APO. BMO Capital Markets started coverage on shares of Apollo Global Management in a report on Friday, October 3rd. They set a “market perform” rating and a $132.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Apollo Global Management in a research report on Wednesday, October 8th. Evercore ISI raised their target price on shares of Apollo Global Management from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. 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 research report on Friday, July 11th. Finally, Wall Street Zen lowered shares of Apollo Global Management from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. One equities research 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’s stock. According to data from MarketBeat.com, Apollo Global Management has an average rating of “Moderate Buy” and an average price target of $162.57.

Insider Activity at Apollo Global Management

In related news, insider Whitney Chatterjee sold 4,500 shares of Apollo Global Management stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $146.03, for a total value 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Leon D. Black sold 915,000 shares of Apollo Global Management stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $134.03, for a total transaction of $122,637,450.00. Following the completion of the transaction, the insider owned 4,526,000 shares in the company, valued at approximately $606,619,780. This trade represents a 16.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 935,000 shares of company stock worth $125,543,790 in the last three months. Insiders own 8.20% of the company’s stock.

Apollo Global Management Stock Performance

NYSE:APO opened at $124.48 on Monday. The firm’s fifty day moving average price is $131.50 and its 200 day moving average price is $136.20. Apollo Global Management Inc. has a 1-year low of $102.58 and a 1-year high of $189.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market cap of $71.21 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 1.42 and a beta of 1.68.

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, beating analysts’ consensus estimates of $1.84 by $0.08. Apollo Global Management had a net margin of 13.25% and a return on equity of 13.38%. The firm had revenue of $6,550,000 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm posted $1.64 EPS. On average, sell-side analysts expect that Apollo Global Management Inc. will post 8 EPS for the current year.

Apollo Global Management Announces Dividend

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

Apollo Global Management 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.